Gold prices climb as tech rout on Wall Street keeps the dollar subdued - Yahoo Finance

AI desk brief

Spot gold rose 0.7% to $4,089.12/oz and gold futures gained 0.6% to $4,097.90/oz as technology stocks sold off. The report linked the rout to concerns that Democratic control of Congress could bring tighter AI regulation; weaker infrastructure spending could weigh on growth and the dollar, potentially supporting bullion. LPL Financial’s Adam Turnquist cautioned that copper had not confirmed the AI slowdown narrative. Meanwhile, initial US jobless claims fell 6,000 to 189,000 in the week ending October 31, and October layoffs totaled 43,994, the lowest October reading since 2023, providing a counterpoint to growth concerns.