24H | Gold Stocks Shine With Anglogold Rising 5%; Uranium Up 5%; BIT Mining Up over 4%; Energy Fuels Up 3%; SOXL Falls Nearly 2%

Tiger Newspress08-29

Gold stocks climbed in overnight trading with Anglogold up over 5%; Gold Fields up over 3%.

Gold headed for a consecutive weekly gain that’s pushed it closer to a record high, as investors braced for an inflation reading that may prove key to US monetary easing this year. Bullion was steady early Friday in Asia at around $3,415 an ounce.

Chip stocks mostly fell in overnight trading after Marvell’s earnings report.

Chipmaker Marvell Technology forecast third-quarter revenue below Wall Street estimates on Thursday, as economic uncertainty and tariff concerns weighed on customer spending and overall demand.

BIT Mining stock rose over 4% after launching DOLAI, a USD-backed stablecoin designed for artificial intelligence agent transactions, partnering with compliance firm Brale Inc. to develop the token on Solana's blockchain.


Energy Fuels Inc stock jumped 3% in overnight trading after announcing a collaboration with Vulcan Elements to create a domestic supply chain for rare earth magnets independent of China.

Uranium stock jumped 5% in overnight trading. Shares have gained 57% this year.

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Comments

  • Longfeather
    08-29
    Longfeather
    Commodities aren't exactly stable either, and there are ways of trading them already that don't need a crypto currency to make them work,  having said that there Is already tether, petro, and bitcarbon  What would be better IMO is a stable coin based on a basket of trade weighted and PPP adjusted KWh of electrical energy delivered by a modern grid. Electricsl energy is one of the best proxies for productive capital and is hard to manufacture cheaply 
  • ZhongRenChun
    08-29
    ZhongRenChun
    We don't anymore usd backed stablecoins.  What we need is commodity backed stablecoins, backed by oil, thorium, steel, lithium, uranium,  plutonium , land, stocks, etc.  This mad rush to back stablecoins with USD is quite silly, as the whole point of cryptocurrency is to move AWAY from USD and fiat.
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