Markets: China Captures US Gold

Housekeeping: Good Morning.

"Nvidia revenues soared 265 per cent in the latest quarter to $22.1bn as the world’s most valuable chip company benefited from a spending frenzy on artificial intelligence. The revenue performance beat analysts’ already heightened expectations of $20.4bn, boosted by a 409 per cent rise in data centre revenue to $18.4bn compared to the previous year. “Accelerated computing and generative AI have hit the tipping point,” said Nvidia founder and chief executive Jensen Huang. “Demand is surging worldwide across companies, industries and nations"." Source: FT

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“NVDA, China Gold, Crescat Charts”

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Contents

1. Current Prices

2. Yesterday’s Activity

3. Data Due

4. News

5. Markets/Metals Commentary

6. Attached: Crescat Chart Package

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Chart of Day: NVDA

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Yesterday’s Activity:

• Precious Metals: Accumulation continues undaunted

• Oil/NG- Captured and mellow, but rallying/ Nat Gas short covering

• US equities- strong and narrow

• Bonds- Yields continue to creep higher

• DX- Dollar drops

• Crypto- BTC is captured

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Week’s Data:

• MONDAY, FEB. 19 None scheduled, President's Day holiday

• TUESDAY, FEB. 20 10:00 am U.S. leading economic indicators Jan. -0.1%

• WEDNESDAY, FEB. 21 2:00 pm Minutes of Fed's January FOMC meeting

• THURSDAY, FEB. 22 Jobless claims, PMI Feb.

• FRIDAY, FEB. 23 None scheduled

Full calendar¹

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News:

Top MSM News Links Here

NOTABLE HEADLINES

• "Federal Reserve officials indicated at their last meeting that they were in no hurry to cut interest rates

• Alphabet's Google (GOOG) to pause Gemini image generation of people after accusations of racist renderings, via Bloomberg²

• Nvidia footnoted³

GEOPOLITICS

• Taiwan update: That situation has been defused by Taiwan admitting culpability. There is no reason to think these type of “accidents” where 2 people are killed and 2 imprisoned won’t happen again

• UKMTO says it has been reported a vessel attack by two missiles, resulting in onboard fire 70NM Southeast of Yemen's Aden.

• UK-owned general cargo ships are reportedly targeted now

• Taiwan's President-elect Lai said they are facing great pressure from China and will continue to enhance defence capabilities, according to Reuters.

• China’s coast guard said it drove away a Philippine Fisheries and Aquatic Resources Bureau vessel

Some headlines via NewSquawk

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Markets/Metals Commentary (Charts):

Exclusive: China Took Delivery of US Based Gold Last Month

Comment:

• Gold- The buying continues. Not over yet

• Silver- selling silver to buy gold with CTAs getting hurt

• Oil

• Stocks

• BTC/ETH- BTC captured in arrange for a reason

• Bonds- less foreigners take our auctions, more domestic take-downs

Premium Attached: