Gold Rallies Amid Meltdown in Stocks
The start of this week saw prices of silver and gold increase significantly, a welcome relief after stock markets globally extended their losing streak amid rising concerns that massive AI-related capital spending driven by major tech firms may be forming a bubble. Gold’s price in dollars rebounded by over $80 an ounce after briefly slipping under $4,000 while silver also rose to $50.83. Sundar Pichai, Alphabet’s CEO, argues that no firm is exempt from the risks of an AI investment collapse. He also cautioned users against placing faith in AI chatbot responses, noting that the early 2000s tech crash that…