FTSE 100 hits fresh record high as gold and silver prices jump again; SpaceX buys xAI in $1.25tn deal – business live

Rolling coverage of the latest economic and financial news

Elon Musk merges SpaceX with artificial intelligence company xAI

Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy.

And welcome to Turnaround Tuesday too. After tumbling on Monday, precious metals and Asia-Pacific stock markets are both recovering today.

Gold’s up 4.5% this morning at $4,877 an ounce, quite a recovery from yesterday’s $4,403oz, while silver’s picked up 6.5% to $84.70.