"Fueling upside, Nvidia ( NASDAQ: NVDA) is racing even higher after Reuters said the company was looking to start shipments of its H200 chips to China early next year. "The report, which cited people familiar with the matter, said that the shipments are anticipated to total between 5,000 and 10,000 chip modules, or approximately 40,000 to 80,000 of H200 chips, added CNBC.""
"The yellow metal is now up to $4,443. Silver is now up to $69. Both remain a hot hedge. "Due to outsized fiscal deficits in the U.S., U.K., Europe, and increasingly Japan and China, "the monetary value of gold has arguably reemerged, according to Matthew McLennan, head of global value team at First Eagle Investments," added CNBC. Many are now making calls for $5,000 gold."
"As just reported by CNBC, "Industry experts say there is still room for gold to run. 'We are now aiming for $5,000 in 2026. If it continues on its current path, it could reach $10,000 before the end of the decade,' Ed Yardeni, president of Yardeni Research, said." Fueling upside is the potential for more rate cuts from the Federal Reserve, economic and geopolitical uncertainty, and a wave of central bank buying."
U.S. stocks advanced in a holiday-shortened session as Nvidia rallied on reports of planned H200 chip shipments to China and Micron climbed on strong earnings. The S&P 500, SPY, Dow, and Nasdaq all moved higher. Gold reached $4,443 and silver $69, with investors viewing both as hedges amid fiscal deficits, potential Federal Reserve rate cuts, geopolitical uncertainty, and central bank buying. Some analysts project $5,000 gold by 2026 and even $10,000 later this decade. Copper prices also jumped on supply concerns given copper’s critical role in electric vehicles, data centers, power grids, and defense systems.
Read at 24/7 Wall St.
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