Topic
loss
Commodities Gold Prices Dip, Head for Third Weekly Loss on Hawkish Fed, Strong Dollar
Gold prices declined on Friday and are headed for a third straight weekly loss, pressured by a strengthening US dollar and the Federal Reserve's increasingly hawkish stance. Spot gold fell 0.6% to $4,184.33 an ounce, while US gold futures for August delivery dropped 1% to $4,202.10. Silver, platinum, and palladium also declined. The Fed's firmer tone and expectations of a rate hike in December have reduced the appeal of non-interest-bearing gold.
Finance Spacex Shares Slide Over 6% as Post-IPO Euphoria Fades; Valuation Drops $150 Billion
SpaceX shares fell more than 6% on Thursday, trading at $178.50, as the post-IPO rally lost momentum. The stock remained over 30% above its $135 IPO price but has now declined nearly 11% from its peak. The slide reduced SpaceX‘s valuation by over $150 billion, and the broader space sector also weakened. Analysts attributed the decline to profit-taking and the stock’s small public float.