- Gold prices are hitting new highs, with analysts predicting further gains as the U.S. Federal Reserve meeting approaches. Some forecasts suggest gold could reach $3,000 per ounce by next year. Spot gold remained at a record high of $2,508.14, while U.S. gold futures set a new record at $2,540.8 during Monday’s Asia trading hours.
- AMD shares rose nearly 3% premarket after the company announced its $4.9 billion acquisition of server maker ZT Systems, aiming to expand its AI chip and hardware portfolio and compete with Nvidia.
- Goldman Sachs lowered its U.S. recession probability to 20% from 25%, after recent retail sales and jobless claims data eased concerns about the economy’s health. This adjustment comes shortly after the bank had raised the odds due to a weaker-than-expected July jobs report.
