#U.S. stocks, gold and silver fall together as safe-haven flows diverge
On October 30, U.S. stocks, gold and silver all declined, indicating that safe-haven demand did not directly lift precious metals that day. The Nasdaq Composite closed at 25,437 points, down 2.86% for the day. In late U.S. trading, spot gold was about $3,879.90 per ounce, down 3.52%, while silver was about $49.015, down 6.06%. Intel's third-quarter revenue rose 21% year over year to $16.5 billion, but its fourth-quarter revenue guidance was $15 billion to $16 billion, and the company noted that PC demand was slowing, putting pressure on tech stocks. Weakness in gold and silver may reflect position adjustments; their simultaneous declines alone are not enough to conclude that their safe-haven role has disappeared. If risk appetite continues to weaken, changes in U.S. Treasury yields and the dollar may affect capital flows. Watch for the U.S. jobs report on November 6 and whether stocks, gold and silver continue to move in tandem.
This article is for informational purposes only and does not constitute investment advice.
On October 30, U.S. stocks, gold and silver all declined, indicating that safe-haven demand did not directly lift precious metals that day. The Nasdaq Composite closed at 25,437 points, down 2.86% for the day. In late U.S. trading, spot gold was about $3,879.90 per ounce, down 3.52%, while silver was about $49.015, down 6.06%. Intel's third-quarter revenue rose 21% year over year to $16.5 billion, but its fourth-quarter revenue guidance was $15 billion to $16 billion, and the company noted that PC demand was slowing, putting pressure on tech stocks. Weakness in gold and silver may reflect position adjustments; their simultaneous declines alone are not enough to conclude that their safe-haven role has disappeared. If risk appetite continues to weaken, changes in U.S. Treasury yields and the dollar may affect capital flows. Watch for the U.S. jobs report on November 6 and whether stocks, gold and silver continue to move in tandem.
This article is for informational purposes only and does not constitute investment advice.
