U.S. Stock Indices, Gold Prices Surge on Tech Gains, AI Investment

On September 22, the three major U.S. stock indices opened lower but closed higher, collectively setting new historical highs. The Dow Jones Industrial Average, Nasdaq Composite, and S&P 500 Index rose by 0.14%, 0.70%, and 0.44% respectively.

Among individual stocks, U.S. large-cap technology stocks experienced mixed performance. By the close of trading, the Technology Select Sector SPDR Fund, which tracks the performance of seven major technology companies, rose by 1.08%. Apple shares surged by over 4%, while Tesla shares rose by nearly 2%. Meta and Amazon both fell by more than 1%, Google dropped by nearly 1%, and Microsoft declined by 0.67%.

NVIDIA shares surged, closing at $183.61 per share, up nearly 4%, and setting a new historical high. The company's market capitalization reached $4.46 trillion. According to reports, NVIDIA CEO Jensen Huang announced that the company plans to invest $100 billion in the U.S. to establish an artificial intelligence research center in collaboration with OpenAI, aiming to build a large-scale data center.

On the same day, spot gold prices continued to rise, reaching a new record high of $3,745.845 per ounce. As of 7 AM on September 23, spot gold prices remained above $3,740 per ounce. In China, the main gold futures contract on the Shanghai Gold Exchange rose by more than 1.4%, closing at 850.98 yuan per gram, setting a new historical high.

In the domestic market, gold-related stocks continued to surge. On September 22, the gold index rose by 3.12%, with all constituent stocks experiencing gains. Xiaocheng Technology and Zhongjin Gold both rose by more than 9%, while Sichuan Gold and Shandong Gold saw significant increases. The price of gold jewelry in China also surpassed 1,080 yuan per gram.

The surge in U.S. stock indices and spot gold prices can be attributed to several factors. The strong performance of large-cap technology stocks, particularly NVIDIA, contributed to the overall market rally. Additionally, the announcement of NVIDIA's significant investment in artificial intelligence research and development further boosted investor confidence. The rise in spot gold prices reflects growing investor interest in safe-haven assets, driven by geopolitical uncertainties and inflation concerns.

In summary, the simultaneous rise of the three major U.S. stock indices and spot gold prices highlights the robust performance of the U.S. equity market and the increasing demand for gold as a safe-haven asset. The strong performance of large-cap technology stocks and significant investments in artificial intelligence research and development have contributed to the market rally. The rise in spot gold prices reflects growing investor interest in safe-haven assets, driven by geopolitical uncertainties and inflation concerns.