Wall Street Breakfast Gold loses safe haven shine
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Mar 23, 2026 Precious metals tumble as gold and silver lose their safe-haven glow amid inflation and rate-hike worries. Elon Musk maps out a TerraFab chip factory in Austin tied to SpaceX and Tesla ambitions. Berkshire Hathaway commits $1.8 billion to a Tokio Marine reinsurance stake and collaboration. Headlines also touch on Social Security debates and Palantir’s Maven AI moving toward military use.
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Gold Loses Safe Haven Shine
- Gold lost its safe-haven status despite geopolitical tension and fell about 14% since the Iran conflict began.
- Traders are pricing a higher-for-longer rate environment to fight energy-led inflation, which pressured gold instead of driving dip-buying.
Musk Launches TerraFab For Vehicle And Space Chips
- Elon Musk announced TerraFab, a joint SpaceX and Tesla chip fab planned for Austin to design and test advanced chips.
- The fab targets low-power chips for vehicles and robots and high-performance chips for space computing to reduce supplier reliance.
Berkshire Expands Into Tokio Marine With $1.8B Stake
- Berkshire Hathaway's National Indemnity will invest about $1.8 billion to buy an initial roughly 2.5% stake in Tokio Marine via disposition of Treasury stock.
- The deal includes reinsurance collaboration and limits on increasing the stake above 9.9% without board approval.