Gold and silver are trading higher after the Federal Reserve cut rates by 50 bps.
Portfolio Pulse from Benzinga Newsdesk
Gold and silver prices have increased following a 50 basis points rate cut by the Federal Reserve.
September 18, 2024 | 6:06 pm
News sentiment analysis
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POSITIVE IMPACT
The SPDR Gold Trust (GLD) is likely to see a positive impact as gold prices rise following the Federal Reserve's rate cut.
The rate cut by the Federal Reserve typically leads to a weaker dollar, making gold more attractive as an investment. This is likely to increase the demand for gold, positively impacting GLD.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The iShares Silver Trust (SLV) is expected to benefit as silver prices increase following the Federal Reserve's rate cut.
Similar to gold, silver prices are also likely to rise due to the Federal Reserve's rate cut, which can lead to increased demand for silver, benefiting SLV.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80