Gold is trading higher following the Fed's recent rate cut.
Portfolio Pulse from Benzinga Newsdesk
Gold prices are rising in response to the Federal Reserve's recent decision to cut interest rates.
September 24, 2024 | 6:35 pm
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POSITIVE IMPACT
The SPDR Gold Trust (GLD), which tracks the price of gold, is likely to see a positive impact as gold prices rise following the Fed's rate cut.
The Fed's rate cut typically leads to a weaker dollar, making gold more attractive as an investment. As GLD tracks gold prices, it is expected to rise in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80