Dan Schwartzman

and Europe.

Precious metals rallied sharply this year, with many analysts expecting the gains to continue, citing geopolitical risks and uncertainty undermining growth prospects and trust in the U.S.

dollar.

Spot gold traded near $4,670 an ounce,

while silver surged as much as 4.4%.

Overall, precious metals have rallied sharply this year following dramatic gains in 2025.

Tesla CEO Elon Musk says the carmaker will resume work on the Dojo 3 project after making progress on the design of its AI5 chip.

Tesla had abruptly ended the Dojo project last year, which revolved around an in-house AI supercomputer for developing driverless vehicle technology.

Musk, posting on X, also invited job applications for what he described as, quote, the highest volume chips in the world.

Last year, Tesla and Samsung signed a $16.5 billion pact that would see Samsung produce the next generation AI6 chip.

Japan's Prime Minister Sanae Takeuchi plans to campaign on a two-year cut to the sales tax on food in a snap election that will take place with early polling beginning on February 8th.

Economists warn the move will cost around 5 trillion yen, equivalent to $31.6 billion per year.

Takahichi said she was still considering how to fund the move.

Takahichi remains popular with a poll by the Asahi newspaper conducted over the weekend showing her support at 67%.

The LA Rams will face the Seattle Seahawks in the NFC Championship game next weekend after beating the Bears in Chicago 20-17 on a 42-yard field goal in overtime.

In the AFC, it'll be the Patriots and Broncos battling for the right to go to the Super Bowl.

College football's national championship game is tonight at Hard Rock Stadium in Miami with kickoff scheduled for 7.30 p.m.

Eastern time as the Indiana Hoosiers are facing the Miami Hurricanes.

That's news when you want it with Bloomberg News Now.

I'm Dan Schwartzman and this is Bloomberg.