Commodities
Gold Reaches Nine-Week High Amid Weakening Dollar
Spot gold has reached a nine-week high and is showing signs of continued upward momentum. The precious metal's price surge can be attributed to the weakening US dollar and declining US Treasury yields, which have driven demand for safe-haven assets.
The Bank of Japan governor's hints at a September rate hike prompted a joint purchase of the yen by the US and Japan, making it more attractive compared to other currencies. This news is bullish for the yen.
Nvidia is partnering with Wall Street giants to advance a $500 billion AI infrastructure plan, which is positive for Nvidia.