Gold and silver are trading lower amid a rise in the US dollar.
Portfolio Pulse from Benzinga Newsdesk
Gold and silver prices are declining due to an increase in the US dollar value.
August 30, 2024 | 7:45 pm
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NEGATIVE IMPACT
The SPDR Gold Trust (GLD) is likely to see a short-term decline in value as gold prices fall due to a stronger US dollar.
GLD is directly affected by gold prices, which are declining due to a stronger US dollar. This typically leads to a decrease in GLD's value.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The iShares Silver Trust (SLV) is expected to experience a short-term decrease in value as silver prices fall with the rising US dollar.
SLV is directly impacted by silver prices, which are declining due to the strengthening US dollar, likely leading to a decrease in SLV's value.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80