Wall Street undecided on gold’s near-term trajectory, Main Street flirts with bearish bias after gold hits $4,200/oz ceiling

Gold, silver diverge as Fed-pause expectations collide with rising crude prices - Kitco PM Report

Why silver is falling faster than gold: What it means for the next surge

Oct 16 (Reuters) - Wall Street tumbled on Friday, with CoreWeave, Broadcom and other AI-related technology stocks under renewed pressure, ​while a jump in oil prices spooked traders heading into the weekend.The Nasdaq was on track for a ‌loss of over 4% for the week, hammered by concerns that debt-laden AI infrastructure companies may not turn profits in time to repay debts, particularly with borrowing costs expected to rise.Nvidia-backed CoreWeave (CRWV.O),slumped 12%, bringing its loss over the past five sessions to about 25%. The data center operator's bonds also sold off ​sharply this week, pushing yields above 15%.Broadcom (AVGO.O),fell 3.6%, and the PHLX chip index (.SOX),sank 2.5%, on track for its ​eighth straight day of declines.Investors on Friday were also watching oil prices jump more than 3% due ⁠to Middle East supply worries."There is some fear in the market," said Rob Haworth, senior investment strategist at U.S. Bank Wealth Management ​in Seattle. "High oil prices, in particular, tend to weigh on the price/earnings multiple of stocks, and so I think you have investors looking to ​be cautious into the weekend rather than take more risk."Adding to concerns around AI financing, some current Anthropic investors and prospective investors are weighing a lower valuation for the company in its upcoming IPO, Reuters reported, citing people familiar with the matter.The S&amp;P 500 was down 1.22% at 7,649.71 points.The Nasdaq declined 2.19% ​to 26,128.13 points, while the Dow Jones Industrial Average was down 0.55% at 51,891.77 points.Six of the 11 S&amp;P 500 sector indexes ​declined, led lower by communication services (.SPLRCL), , down 2.52%, followed by a 2.38% loss in information technology (.SPLRCT), .The S&amp;P 500 was set for its steepest weekly loss ‌since January, ⁠and the Nasdaq was heading for its sharpest weekly fall since June.Third-quarter earnings season shifts into gear next week with reports from Tesla (TSLA.O), , Meta Platforms (META.O),and Procter &amp; Gamble (PG.N), . Analysts on average see quarterly earnings surging over 30%, driven byAI-related megacaps, according to LSEG data.While the S&amp;P 500 remains up about 12% in 2025, most of that gain has come from AI-related tech stocks, and the index’s median component ​has climbed only about 6%, year ​to date. About 185 S&amp;P ⁠500 stocks have lost ground in 2025.Hotter-than-expected consumer and producer inflation reports this week showed price pressures were extending beyond energy commodities.Federal Reserve Chair Kevin Warsh on Friday voiced optimism about US economic strength and surprise ​about how well global economies have been "hanging in there" during a lingering energy shock and tighter monetary ​policy to fight ⁠inflation.Markets increasingly expect the Fed to keep interest rates unchanged this month. Barclays now expects 25-basis-point hikes each in December and January.Tesla (TSLA.O),dropped 2.5% after the electric-vehicle maker unveiled a redesigned Roadster, powered by rocket-style thrusters, developed in collaboration with SpaceX.Netflix (NFLX.O),appointed former Disney executive Peter Rice as chief content officer on ⁠Thursday. Its ​shares were down 2.9%.Declining stocks outnumbered rising ones within the S&amp;P 500 (.AD.SPX),by ​a 1.3-to-one ratio.The S&amp;P 500 posted 19 new highs and one new low; the Nasdaq recorded 49 new highs and 263 new lows.Reporting by Tharuniyaa Lakshmi and Purvi Agarwal ​in Bengaluru, and by Noel Randewich in San Francisco; additional reporting by Vidya Ranganathan; Editing by Joyjeet Das, Shinjini Ganguli and David Gregorio

Wall Street tumbles as worries about AI trade and high oil prices weigh

Gold looks to housing, PMI and consumer sentiment data for direction next week

Gold traded at a premium in India this week for the first time in more than three months as a pullback in prices boosted jewellery purchases, while demand in top consumer China remained subdued.In India, domestic gold prices were quoted around 148,200 rupees per 10 grams on Friday, after touching a two-week low of 145,627 rupees earlier in the week.“Jewellery demand is picking up with the festive and wedding season kicking in, but investors are still holding back as prices continue to fall,” said Chanda Venkatesh, managing director of Hyderabad-based bullion merchant CapsGold.Dealers quoted premiums of up to $7 an ounce over official domestic prices, inclusive of 15% import and 3% sales levies, compared with discounts of up to $6 last week.Although gold imports typically increase ahead of the festival season, inflows have been lower than usual this year, tightening domestic supplies, said a Mumbai-based dealer at a private bank.India’s gold imports in September fell to $1.8 billion, a slump from $9.6 billion last year, trade ministry data showed.Meanwhile, several large Indian mutual funds issued public notices late on Thursday suspending bulk subscriptions to gold exchange-traded funds.In China, bullion traded at premiums of $4 to $13 an ounce to the global benchmark price.“Buying interest remains subdued as spot gold continues to trade in a wide and volatile range, making physical buyers more cautious,” said Bernard Sin, regional director, Greater China at MKS PAMP.International spot gold prices edged higher, but were on track for a marginal weekly decline.In Singapore, gold was sold between a premium of $0.50 and $1.70 this week, while it traded flat to $1.50 premium in Hong Kong.In Japan, gold was sold between a $0.25 discount and a $0.50 premium.Investment demand for gold in Japan remains weak, with retail purchases showing a similar trend, a Tokyo-based trader said.(Reporting by Sukanya Mitra in Bengaluru and Rajendra Jadhav in Mumbai; Editing by Sherry Jacob-Phillips)

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Wall Street undecided on gold’s near-term trajectory, Main Street flirts with bearish bias after gold hits $4,200/oz ceiling

Gold, silver diverge as Fed-pause expectations collide with rising crude prices - Kitco PM Report

Wall Street tumbles as worries about AI trade and high oil prices weigh

Gold looks to housing, PMI and consumer sentiment data for direction next week

India gold swings to premium as lower prices lift jewellery demand