Gold Rips to 6-Week High as SpaceX Crashes 13.6% | 911M Shares Unlock TODAY
Gold ripped to a six-week high while the Nasdaq slipped. SpaceX collapsed almost 14% — one day before up to 911 million insider shares unlock. And Asian chip stocks tumbled overnight. Here's what's actually driving it.
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Thursday, August 6, 2026:
⛽ Iran and Oman agreed on coordinates for a Strait of Hormuz shipping corridor — two to four months, not a full reopening. Brent near $79.70, WTI near $75.40, both down 10–12% in five sessions. A tanker crossing the strait reported two explosions overnight.
🥇 Spot gold jumped ~3% Wednesday to its highest since June 22, trading near $4,260. Cheaper oil means cooler inflation and less Fed pressure. Softer dollar, lower yields, silver and miners along for the ride. The risk: a hawkish Fed.
📉 Private payrolls added just 44,000 jobs in July — weakest of the year, below the 75,000 expected. Yet Fed Governor Lisa Cook said she's prepared to support a rate hike if inflation doesn't ease. 10-year yield near 4.62%.
📊 Dow closed at a record 54,349 (+0.5%). S&P 500 -0.2%. Nasdaq -0.8%.
🤖 Musk said SpaceX will build exclusively on Nvidia chips — Nvidia +3.5%, AMD -7% despite record revenue near $11.5B. SpaceX -13.6% on soaring capex with 911M insider shares unlocking today. Alphabet -4% on an AI leadership reshuffle. SanDisk -8% after hours, Western Digital down double digits, KOSPI -4.5%.
₿ Bitcoin near $64,700 (+1%), Ether near $1,905 (+2%), XRP near $1.05 (-1%). Spot Bitcoin ETFs pulled in ~$244M — third straight inflow day.
🎯 Capital is rotating out of AI hardware and into gold and Dow cyclicals. Friday's jobs report is the next confirmation.
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⚠️ DISCLAIMER: I'm not a licensed financial advisor. This is for educational purposes only and not financial or investment advice. Markets and crypto are volatile — never invest more than you can afford to lose. Do your own research.
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