Shares of precious metals stocks are trading lower as gold and silver drop amid a rise in the dollar.
Portfolio Pulse from Benzinga Newsdesk
Precious metals stocks are experiencing a decline as gold and silver prices fall due to a strengthening dollar.
September 06, 2024 | 7:39 pm
News sentiment analysis
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NEGATIVE IMPACT
Kinross Gold Corporation (KGC) shares are likely to be negatively impacted by the drop in gold prices, driven by a stronger dollar.
KGC is a gold mining company, and its stock price is sensitive to changes in gold prices. A stronger dollar typically leads to lower gold prices, which can negatively impact KGC's stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Newmont Corporation (NEM) shares are likely to be negatively impacted by the decline in gold prices due to a stronger dollar.
NEM is a major player in the gold mining industry, and its stock is closely tied to gold price movements. A stronger dollar often results in lower gold prices, affecting NEM negatively.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Wheaton Precious Metals Corp (WPM) shares are likely to be negatively impacted by the drop in silver prices, influenced by a stronger dollar.
WPM is involved in silver streaming, and its stock price is sensitive to silver price fluctuations. A stronger dollar can lead to lower silver prices, negatively impacting WPM.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80