Gold and silver are trading lower following softer-than-expected US PPI figures.
Portfolio Pulse from Benzinga Newsdesk
Gold and silver prices are trading lower due to softer-than-expected US Producer Price Index (PPI) figures.
June 13, 2024 | 7:30 pm
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NEGATIVE IMPACT
The SPDR Gold Shares ETF (GLD) is likely to see a short-term decline in price due to lower gold prices following softer-than-expected US PPI figures.
The price of gold is directly correlated with the performance of the GLD ETF. Softer-than-expected PPI figures suggest lower inflationary pressures, which typically leads to a decline in gold prices.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
The iShares Silver Trust ETF (SLV) is likely to see a short-term decline in price due to lower silver prices following softer-than-expected US PPI figures.
The price of silver is directly correlated with the performance of the SLV ETF. Softer-than-expected PPI figures suggest lower inflationary pressures, which typically leads to a decline in silver prices.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90