Gold Surges 1.91% to $4,321 as SK Hynix Invests $38B in Chips

Precious metals rally sharply with gold up 1.91% and silver up 4.26%. SK Hynix commits $38.3B for new fabs, while SpaceX and Tesla partner on a $16.8B AI chip plant ahead of US jobs data.

Woofun AI data shows that spot gold prices increased by 1.91% to $4,321.40 per ounce, while spot silver prices rose 4.26% to $64.13 per ounce. U.S. equity index futures posted modest gains, with Nasdaq 100 futures up 0.58%, S&P 500 futures up 0.24%, and Dow Jones futures up 0.12%. European indices also advanced, led by Germany's DAX30 at +0.85%.

Meanwhile, WTI crude oil futures fell 0.62% to $76.810 per barrel.

SK Hynix announced a 54 trillion won ($38.3 billion) investment to construct two new wafer factories in South Korea for HBM and memory production. SpaceX and Tesla confirmed a collaboration to build a Terafab AI chip manufacturing plant in Texas, with an initial investment of $16.8 billion. AMD disclosed plans to acquire AI inference chip startup Taalas. Apple raised trade-in values for its devices by an average of 6.6% and added support for six Android models. July U.S. non-farm payroll data is scheduled for release at 20:30 Beijing time, with expectations of 80,000 new jobs.