Gold Gains as NVDA 'Spy' Scandal Extends Nasdaq Tech Stock Sell-Off

AI desk brief

Gold rose to $4,134 per troy ounce before retreating to $4,115 by UK lunchtime, 1.6% above Friday’s London afternoon auction, as the Dollar Index slipped 0.4%. Silver reached $53.46 before easing to $52.64, still 1.2% above Friday’s auction; gold and silver gained 3.5% and 3.8% last week. MKS Pamp’s Nicky Shiels linked technology-sector concerns to potential tighter AI regulation following Democratic midterm gains. Dollar weakness could support bullion, but the source’s historical comparison cautions against assuming immediate protection from equity losses: gold also initially declined during the 2000 technology bust.