On October 9, all three major US stock indices closed higher, semiconductors mostly fell, while Chinese concept stocks and gold prices surged.

By the close, the Dow gained 0.83%, the S&P 500 rose 0.59%, and the Nasdaq Composite advanced 0.64%. For the week, the Dow was up 0.93% in cumulative terms, its largest weekly gain since the week of August 7; the S&P 500 gained 1.15%; and the Nasdaq Composite rose 0.64%, marking its fourth consecutive weekly advance and its longest winning streak since the six-week run that ended on May 8.

The seven largest technology giants on Wall Street were mixed, with Amazon up more than 3%, Microsoft and Tesla up over 2%, while Apple fell more than 1%.

Semiconductor shares mostly closed lower, with the Philadelphia Semiconductor Index down 0.41% and off 4.3% for the week. Among individual names, ARM fell 3.27% on the day, Intel and AMD dropped more than 2%, and TSMC slipped more than 1%.

Chinese concept stocks surged, with the Nasdaq Golden Dragon China Index closing up 2.69% and gaining 4.25% for the week. Alibaba, Li Auto, and NIO each jumped more than 5% on the day, Bilibili rose over 4%, and NetEase closed up 3.88%.

On October 9, international gold and silver prices continued to climb. London spot gold rose 1.46%, gaining more than $60 intraday and approaching $4,200 per ounce; COMEX gold futures rose 1.52%; spot silver gained 2.77%, returning above $60 per ounce.

UBS strategists said gold may once again test support near $4,000 per ounce in the short term before rebounding. The bank believes that structural buying on dips is likely to establish a price floor at the $4,000 round-number level.

Looking ahead, UBS forecasts gold reaching $4,600 by December this year, $5,000 by March 2027, $5,200 by June 2027, and $5,400 by September 2027.