Chip stocks bounce back as OpenAI files for Wall Street float – business live

US April trade data show a modest narrowing in the deficit to $55.9bn from $56.6bn, helped by stronger exports tied to the Middle East conflict and higher crude shipments. Within the release, nonmonetary gold exports fell $5.8bn and other precious metals exports fell $1.9bn, but the article offers no breakdown on bullion demand, pricing, or trade destination so the precious-metals signal is limited. The broader market tone is risk-on and tech-led, with Seoul chip stocks surging after the prior day’s sell-off and OpenAI filing for an IPO, reinforcing the article’s focus on AI/equity flows rather than metals. The only direct PM-relevant datapoints are the US trade figures, which imply some drag from gold and other precious-metals exports, but there is no evidence here of a structural shift in physical demand or flows. For metals desks, the piece is mainly background macro: stronger US exports and elevated energy trade can be mildly dollar-supportive in the margin, while the precious-metals line items point to weaker export values in April. Near-term, the article is not a trading catalyst for XAU/XAG/XPT/XPD unless other releases confirm a broader trade or flow trend.