Gold and silver are trading higher. Precious metals have recently gained on macro uncertainty amid Middle East conflict and the upcoming US presidential election.
Portfolio Pulse from Benzinga Newsdesk
Gold and silver prices are rising due to macroeconomic uncertainty, influenced by the Middle East conflict and the upcoming US presidential election.
October 22, 2024 | 4:48 pm
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POSITIVE IMPACT
The SPDR Gold Trust (GLD) is likely to see a positive impact as gold prices rise due to macroeconomic uncertainties, including geopolitical tensions and the US election.
GLD, as a gold ETF, directly benefits from rising gold prices. The current macroeconomic uncertainties, such as the Middle East conflict and US election, are driving investors towards safe-haven assets like gold.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The iShares Silver Trust (SLV) is likely to experience a positive impact as silver prices increase due to macroeconomic uncertainties.
SLV, as a silver ETF, benefits from rising silver prices. The macroeconomic uncertainties, including geopolitical tensions and the US election, are pushing investors towards silver as a safe-haven asset.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80