Representatives from the Chinese side say they think it likely that Chinese President Xi Jinping will attend the G-20 meeting later this month. But in order to reach a trade...China Economyread more
Software engineers straight out of college often make six-figure salaries, not counting equity compensation.Technologyread more
Wall Street, though, is clamoring for a rate cut, with an 85% chance of a move in July and a 61% probability of three reductions by year's end.The Fedread more
A company spokesperson said the outage was the result of a "an internal technology issue" and was not security related.Retailread more
The flattening of the yield curve is exuding a bad omen for the stock market if history is any guide.Marketsread more
Using MIT's living wage calculator, CNBC Make It mapped out the minimum amount a single parent must earn to meet their basic needs without relying on outside help in every...Earnread more
Hong Kong Chief Executive Carrie Lam announced at a press conference on Saturday that a contentious bill to allow extraditions to mainland China has been put on hold.China Politicsread more
Stratolaunch, the world's largest airplane, which flew once, is up for sale, sources familiar told CNBC.Investing in Spaceread more
Transparency is key… or is it? With the first-ever non-transparent, actively managed exchange-traded fund receiving approval from the SEC, "ETF Edge" goes straight to the...ETF Edgeread more
Mired in a crisis over its best-selling 737 Max plane, Boeing could hand the spotlight over to its rival Airbus at the Paris Air Show.Airlinesread more
A new update to the Apple Watch called watchOS 6 will notify you if the environment you're in is too loud and could damage your hearing.Technologyread more
Gold settled about 2 percent higher on Thursday as sharp losses in U.S. equities and disappointing Chinese manufacturing data boosted bullion's safe-haven appeal.
Gains in the metal's price accelerated after it rose above key technical resistance at $1,260 an ounce, a level where it had repeatedly failed. The U.S. dollar's tumble following a strong manufacturing report in the euro zone also lifted gold prices to a nearly two-month high.
Bullion investor sentiment was lifted after manufacturing data in China showed that a mild slowdown at the end of 2013 in the world's second-largest economy had continued into the new year.
"Market participants were ready to sell their equities holdings and to add to their gold positions on the weaker-than-expected Chinese data," said Carlos Sanchez, a portfolio manager and director of commodities and asset management at CPM Group in New York.
Spot gold was last up 2.3 percent to $1,264 an ounce, within reach of a two-month high of $1,267.26 set in early December.
U.S. gold futures for February settled 1.9 percent higher at $1,262.30 an ounce.
U.S. stocks measured by the Standard & Poor's 500 index fell nearly 1 percent on the Chinese data and a mixed bag of recent U.S. corporate earnings.
On charts, gold appears to form a bullish technical double-bottom pattern connecting the lows of June and December at prices below $1,200 an ounce.
In the short term, technical selling could pressure gold, as bullion was near a long-term downward trendline and its 100-day average at $1,277 an ounce, analysts said.
Adam Sarhan, chief executive officer of Sarhan Capital in New York, said gold's double-bottom pattern will be confirmed if the price rises above $1,433 an ounce, the peak at the middle of the bullish formation.
Bullion prices were also underpinned after the leader of India's ruling Congress party, Sonia Gandhi, asked the government to review tough import restrictions on gold, which include a record 10 percent import duty, a television channel said on Thursday.