Shares of precious metals stocks are trading higher as gold and silver rise amid a drop in the US dollar following recent economic data.
Portfolio Pulse from Benzinga Newsdesk
Precious metals stocks are experiencing a rise as gold and silver prices increase due to a decline in the US dollar, influenced by recent economic data.
September 13, 2024 | 3:20 pm
News sentiment analysis
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POSITIVE IMPACT
Agnico Eagle Mines (AEM) shares are likely to benefit from the rise in gold prices due to a weaker US dollar.
AEM is a gold mining company, and its stock price is positively correlated with gold prices. The rise in gold prices due to a weaker dollar is likely to boost AEM's stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
First Majestic Silver (AG) shares are likely to benefit from the rise in silver prices due to a weaker US dollar.
AG is a silver mining company, and its stock price is positively correlated with silver prices. The rise in silver prices due to a weaker dollar is likely to boost AG's stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Pan American Silver (PAAS) shares are likely to benefit from the rise in silver prices due to a weaker US dollar.
PAAS is a silver mining company, and its stock price is positively correlated with silver prices. The rise in silver prices due to a weaker dollar is likely to boost PAAS's stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80