Shares of gold and silver companies 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
Shares of gold and silver companies are experiencing an uptick due to increased demand for precious metals, driven by macroeconomic uncertainty related to the Middle East conflict and the upcoming US presidential election.
October 22, 2024 | 5:00 pm
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POSITIVE IMPACT
Agnico Eagle Mines (AEM) shares are likely to benefit from the increased demand for gold as a safe haven amid geopolitical tensions and election uncertainty.
AEM, being a major gold producer, is directly impacted by the rise in gold prices as investors seek safe havens.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
AngloGold Ashanti (AU) is seeing a positive impact on its stock price due to increased gold demand amid global uncertainties.
As a gold mining company, AU's stock is positively influenced by the rising gold prices driven by geopolitical and economic uncertainties.
CONFIDENCE 85
IMPORTANCE 65
RELEVANCE 75
POSITIVE IMPACT
Newmont Corporation (NEM) shares are likely to rise as gold prices increase due to geopolitical tensions and election-related uncertainties.
NEM, a leading gold producer, benefits from the increased demand for gold as a safe haven asset.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 85
POSITIVE IMPACT
Pan American Silver (PAAS) is experiencing a rise in stock price as silver demand increases alongside gold due to macroeconomic uncertainties.
PAAS, a major silver producer, benefits from the increased demand for silver as a safe haven asset.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Wheaton Precious Metals (WPM) shares are likely to benefit from the increased demand for precious metals amid geopolitical and election uncertainties.
WPM, involved in precious metals streaming, benefits from the overall rise in gold and silver prices.
CONFIDENCE 85
IMPORTANCE 65
RELEVANCE 75