Gold declines, Bitcoin rises
While investors focus on tech stocks and artificial intelligence spending, gold prices have dropped to their lowest level in recent times, while signs of a recovery have been observed in Bitcoin.
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Global markets saw a slight improvement in US stock exchanges following a sharp sell-off in the technology sector over the past two days. With the impact of this recovery, a slight rise was also observed in the cryptocurrency market. In particular, Bitcoin recovered after yesterday's rapid decline, climbing back above 62,000 dollars.
Market experts point out that the quarterly financial results to be announced by US chip manufacturer Micron Technology after the session will be an important indicator for tech stocks. David Morrison from Trade Nation said, 'Very positive expectations are already priced into the stock, so there is a possibility of disappointment.' However, he noted that positive expectations from the company could support both Micron and the chip sector in general.
Morrison also stated that the possibility of a potential interest rate hike by the US Federal Reserve continues to put pressure on tech stocks by increasing borrowing costs for companies building artificial intelligence infrastructure.
Bitcoin, which fell to its lowest level in 12 days yesterday, is currently trading at around 62,781 dollars, up 0.63 percent.
Gold, on the other hand, followed a trend unfavorable to investors, losing over 3 percent in value and falling below the psychological threshold of 4,000 dollars per ounce. Seeing this level for the first time since November 18, gold is priced at 3,972 dollars.