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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
Gold prices fell in early Asian trade as risk sentiment deteriorated, with the selloff in AI-related technology stocks spilling over into commodities, according to the Wall Street Journal. Capital Economics noted that souring sentiment toward AI-related assets has spread to commodities, with gold among the hardest hit last week.
The decline comes amid growing concerns of overvaluation in the AI sector, prompting investors to reduce exposure to risk assets. This shift has pressured precious metals, as gold—typically a safe haven—has been caught in a broader liquidation where investors are selling everything for cash amid the tech rout.
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Sign InMarkets are now focused on upcoming Fed speeches, including Christopher Waller's address today, as well as US services and composite PMI data. Any signals on the interest rate path could redirect gold's trajectory. Traders are also watching Canadian inflation data, which may influence the US dollar and consequently gold prices.