Gold and silver are trading lower as Treasury yields rise following strong US economic data.
Portfolio Pulse from Benzinga Newsdesk
Gold and silver are trading lower as Treasury yields rise following strong US economic data.
June 07, 2024 | 12:52 pm
News sentiment analysis
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NEGATIVE IMPACT
The SPDR Gold Shares ETF (GLD) is likely to see a short-term decline as gold prices drop due to rising Treasury yields and strong US economic data.
Rising Treasury yields typically make non-yielding assets like gold less attractive, leading to a decline in gold prices. Strong economic data further supports higher yields, negatively impacting GLD.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
The iShares Silver Trust ETF (SLV) is expected to experience a short-term decline as silver prices fall due to rising Treasury yields and strong US economic data.
Similar to gold, silver prices are negatively impacted by rising Treasury yields, which make non-yielding assets less attractive. Strong economic data supports higher yields, affecting SLV.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90