Demand for gold surged to an 11-year high last year. This is due to large-scale purchases on the back of high activity by retail investors and a slowdown of ETF outflows.
‘Years ahead.’ Analysts praised experience, investing and innovation of NVIDIA
Jensen Huang, founder and CEO of Nvidia, gave a speech at the company’s GTC, an international conference on artificial intelligence held by Nvidia for developers. His speech received a number of comments from several participants and analysts.
As it was said by an analyst from Morgan Stanley, who determined the target price of the stock to be at the level of $182, a certain conception of pricing tailwinds within the industry of gaming was created as a result of the conference, along with an understanding of the growing business in the area of software and services, which will grant clients with a complex solution for artificial intelligence, development of simulations, and programming of production automation.
The analyst also stated that the main conclusion made after the speech concerned the setting of higher prices of gaming graphics processing units. According to his words, it inspires analysts’ confidence in how quick a revival of the gaming industry’s revenue will happen in the upcoming year. He specifically highlighted that their company will have a position in the segment, considering the stock as the main holding, especially after a sell-off which took place not a long time ago. The analyst also said that they also allow for the possibility to add to the positions, considering a fact of historically registered multiple cases of contraction during uncertainty phases.
A Rosenblatt Securities representative, who gave Nvidia a Buy rating, noted the strength behind the performance of the Nvidia’s CEO, which met expectations of the audience.
As it was noted in his commentary, the Fall variation of the Nvidia’s conference on graphics processing unit technologies, also known as GTC, lived up to expectations in launching and announcements in such spheres as the silicon, software, apps and system domains for everything AI-related. According to his words, it’s safe to say that Nvidia is currently all into artificial intelligence, as the company is “years ahead” of anyone in relation to its in-depth experience, investing and innovation.
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Energy and Precious Metals Market events for February 2-3, 2023
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Aluminum buyers from Japan agreed to pay extra charges in the first quarter
Latest news
Last year recorded an increased demand for gold up to the levels of 2011
1 February
Exxon Mobile is criticized for $56 billion profit
1 February
The White House expressed a negative assessment of the record profit of Exxon Mobile in 2022. The company earned $56 billion, and it’s a maximum for both itself and the whole oil industry of Western countries.
White House Supports Alaska Oil Project
1 February
The US Interior Department’s Bureau of Land Management supports an accelerated plan of oil production. It includes 3 new wells across the Willow site in the Petroleum Reserve-Alaska, instead of having 5 wells predetermined earlier.
Energy and Precious Metals Market events for February 2-3, 2023
2 February
On February 2, the focus is on natural gas reserves in the United States. On February 3, data on oil rigs from Baker Hughes and speculative positions on oil and gas, gold, silver, aluminum and copper are on the agenda.
Aluminum buyers from Japan agreed to pay extra charges in the first quarter
1 February
Japan was buying aluminum at a surcharge. Shipments from January to March were at $85-86 per ton, which is 13-14% less than in the previous quarter. Resources report weak demand and strong reserves of aluminum.