Shares of precious metals stocks are trading higher as gold and silver rise amid macro uncertainty, which has been attributed to Middle East conflict and the upcoming US presidential election.
Portfolio Pulse from Benzinga Newsdesk
Precious metals stocks are experiencing a rise in share prices due to increased gold and silver prices. This surge is driven by macroeconomic uncertainties linked to the Middle East conflict and the upcoming US presidential election.

October 21, 2024 | 1:33 pm
News sentiment analysis
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POSITIVE IMPACT
AngloGold Ashanti's stock is likely to benefit from the rise in gold prices due to geopolitical tensions and election uncertainties.
As a gold mining company, AU's stock is directly influenced by gold prices. The current macroeconomic uncertainties are driving gold prices up, which is positive for AU.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Coeur Mining is likely to see a positive impact on its stock due to rising silver prices amid geopolitical and election-related uncertainties.
CDE is a silver mining company, and its stock is sensitive to silver price movements. The current rise in silver prices due to macro uncertainties is favorable for CDE.
CONFIDENCE 85
IMPORTANCE 65
RELEVANCE 75
POSITIVE IMPACT
Newmont Corporation's stock is expected to rise as gold prices increase due to geopolitical and election uncertainties.
NEM, being a major gold producer, benefits from rising gold prices. The current geopolitical and election-related uncertainties are pushing gold prices higher, which is advantageous for NEM.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 85
POSITIVE IMPACT
Wheaton Precious Metals is likely to benefit from the rise in both gold and silver prices amid current macroeconomic uncertainties.
WPM, a precious metals streaming company, benefits from higher gold and silver prices. The current macroeconomic uncertainties are driving these prices up, which is positive for WPM.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80