Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning.

We've made it to another Monday. It's the 23rd of March. I'm Julie Morgan.

Gold status as a sanctuary asset continues to crumble. As of the time of this recording,

spot gold is trading around 40 to 50,

silver, platinum, and palladium are all down at least 4%. Gold was expected to rally amid

war and inflation fears, but instead it has dropped sharply, falling about 14% since the start of

the Iran conflict. According to the Wall

Street Journal's Streetwise column, the decline has surprised investors who typically view the

metal as a safe haven in times of geopolitical stress. Gold ended last year at 4319 an ounce and

spiked to an all-time high above 5595 an ounce in late January. According to market

participants rather than buying the dip, traders are pricing in a higher for longer rate environment

to combat energy-led inflation. Elon Musk has unveiled plans for a new semiconductor venture, is called TerraFab. It'll be built in

Austin and operated jointly by SpaceX and Tesla. The project would begin with a smaller advanced

fabrication facility, capable of designing and testing a wide range of chips with ambitions to

scale into a much larger operation.

The proposed fab would produce two main types of chips, lower power processors for vehicles,

robotaxies, and humanoid robots, and higher performance chips designed for space-based computing.

The Austin location would sit near Tesla's existing operations and could

further position Texas as a growing hub for chip manufacturing. Tesla currently relies on suppliers

such as Taiwan Semiconductor manufacturing and Samsung. Berkshire Hathaway plans to invest about $1.8 billion in Japanese insurance firm, Tokyo Marine Holdings,

further expanding its exposure to Japan. The investment will be made through Berkshire's

reinsurance unit, National Indemnity Company, which will initially acquire a roughly 2.5% stake in the insurer.

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