Gold and silver are trading lower amid a rise in the US dollar.
Portfolio Pulse from Benzinga Newsdesk
Gold and silver are trading lower due to a rise in the US dollar.
August 01, 2024 | 6:35 pm
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NEGATIVE IMPACT
The SPDR Gold Trust (GLD) is likely to see a short-term decline as gold prices fall due to a stronger US dollar.
A stronger US dollar typically leads to lower gold prices, which negatively impacts GLD.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
The iShares Silver Trust (SLV) is expected to experience a short-term decline as silver prices fall due to a stronger US dollar.
A stronger US dollar typically leads to lower silver prices, which negatively impacts SLV.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100