PRECIOUS-Gold slips as upbeat US data boosts dollar, dims rate-cut bets

TradingKey - Micron Technology has become one of the biggest winners of AI in the semiconductor industry. Previously viewed mostly as a cyclical manufacturer of memory chips, Wall Street is now starting to see Micron as an important AI infrastructure company.

TradingKey - SpaceX IPO targets June 12, 2026 on Nasdaq (SPCX). Raising up to $75B at $1.75T valuation — largest IPO in history. Starlink 9M+ users, $15–16B 2025 revenue. Dual-class shares. Musk keeps control.

Tradingkey - Geopolitical tensions escalated sharply over the weekend. Following the conclusion of Trump's visit to China, tensions between the U.S. and Iran flared up once again. Renewed expectations of a long-term blockade of the Strait of Hormuz pushed both major crude oil futures to nearly two-week highs. As of press time, Brent crude broke above the $110 mark, rising 1.80% to $111.45 per barrel, having touched its highest level since May 5 during intraday trading. WTI crude oil futures rose 2.39% to $103.41 per barrel.

TradingKey - In the early Asian session on May 18, gold prices (XAUUSD) extended last week's downward trend, falling for the fifth consecutive trading day. Prices briefly broke below $4,500 intraday, hitting a low of $4,480.54. Gold is currently trading at $4,497.11, down approximately 1% from last Friday.

TradingKey - Nvidia Q1 FY2027 earnings May 20. Consensus: $78B revenue, $65B+ data centre, 74%+ margins. BofA target $320. NVDA at $224 at Fib 0.382 support. Breakout targets $231–$237.