Gold is trading lower as the dollar rises amid an increase in Treasury yields.
Portfolio Pulse from Benzinga Newsdesk
Gold prices are declining as the US dollar strengthens and Treasury yields increase.
May 29, 2024 | 4:00 pm
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NEGATIVE IMPACT
The SPDR Gold Shares ETF (GLD) is likely to see a decline in its price as gold prices drop due to a stronger US dollar and rising Treasury yields.
GLD tracks the price of gold, which is currently declining due to a stronger US dollar and increasing Treasury yields. This inverse relationship typically results in a drop in GLD's price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100