Spot silver fell 1.00% intraday to $68.57/oz.

Politico reports tech companies are lobbying the Trump administration to narrow proposed semiconductor tariffs, seeking a scope closer to an earlier plan that granted broad exemptions for data centers and other domestic uses. Lobbyists warn the tariffs would make it harder for US firms to secure the chip volumes needed for AI, slowing data-center expansion. US tech giants are investing record sums in AI, committing hundreds of billions to hyperscale data-center campuses and buying expensive advanced chips. An official at a large tech industry association who served in Trump’s first administration called the proposal “possibly the dumbest way I can think of to pursue US AI dominance,” saying it would be like hobbling yourself at the starting line.

Shanghai Gold Exchange gold T+D fell 0.6% in early trade on Friday, Aug 28, to 990.72 yuan/gram; Shanghai Gold Exchange silver T+D rose 0.62% to 16,820 yuan/kg.