Shares of gold companies are trading higher following a spike in the price of the safe haven asset after Iran launched a missile attack on Israel.
Portfolio Pulse from Benzinga Newsdesk
Gold company shares are rising due to a spike in gold prices following Iran's missile attack on Israel.
October 01, 2024 | 5:08 pm
News sentiment analysis
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POSITIVE IMPACT
Agnico Eagle Mines (AEM) shares are likely to rise as gold prices increase due to geopolitical tensions.
AEM is a gold mining company, and its stock price is positively correlated with gold prices. The geopolitical tension has increased gold prices, likely benefiting AEM.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
AngloGold Ashanti (AU) shares are expected to benefit from the rise in gold prices.
As a gold mining company, AU's stock price is influenced by gold prices. The current geopolitical situation has led to a rise in gold prices, likely benefiting AU.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Barrick Gold Corporation (GOLD) shares are expected to benefit from the rise in gold prices.
GOLD is a leading gold mining company, and its stock price is sensitive to changes in gold prices. The current geopolitical tensions have led to a rise in gold prices, likely benefiting GOLD.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Newmont Corporation (NEM) shares are likely to rise with the increase in gold prices.
NEM, being a major gold producer, is directly impacted by gold price movements. The rise in gold prices due to geopolitical tensions is likely to positively impact NEM's stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80