Japan and South Korea are part of a complex and tightly linked supply chain that produces electronic goods such as smartphones and laptops.Technologyread more
A different oil pricing dynamic has been evolving with new supply calculations based on the U.S. as the world's largest producer.Market Insiderread more
The Massachusetts senator's alarm-sounding on consumer debt neglects to measure it against the growth in the economy and the ability to pay.Economyread more
Stocks in Asia Pacific edged up on Tuesday morning following overnight gains on Wall Street as the earnings season rolls on.Asia Marketsread more
More than half of Venezuela's 23 states lost power on Monday, according to Reuters witnesses and reports on social media, a blackout the government blamed on an...World Politicsread more
Equifax will give consumers a range of options for monitoring their credit or making claims of fraud or data misuse, part of a $425 million restitution fund.Technologyread more
The deal between the White House and Democrats was earlier expected to raise the debt ceiling for two years and permanently end the sequester.Politicsread more
Britain's Antstream is jumping into the cloud gaming battle with a streaming platform for retro titles. And Tencent just backed the company.Technologyread more
American comedian Hannibal Buress, who stars in "The Eric Andre Show," has made a recent transition into the world of business as an angel investor — but there's an important...How I Made Itread more
The deal could be announced as soon as next week, according to the report.Technologyread more
President Donald Trump held "constructive" discussions on a range of economic issues including trade and national security issues.Technologyread more
Gold steadied on Tuesday as U.S. stocks bounced, allaying earlier market jitters that had pressured European equities and boosted interest in the precious metal as a haven from risk.
U.S. stocks, which were closed on Monday for the Presidents' Day holiday, opened higher as cautious investors looked for bargains. That depressed interest in gold as an alternative asset, pulling prices from an earlier high of $1,216.80.
Spot gold was at $1,203.90 an ounce, down from $1,209.30 late on Monday, when it shed 2.3 percent, its biggest one-day loss since mid-July.
Gold hit a one-year high of $1,260.60 last week as worries over the global economy prompted heavy selling of cyclical assets, such as stocks and some commodities. However, its rise has been curbed by uncertainty over U.S. monetary policy.
"All the major financial drivers have been in concert to help this rise happen - the Fed futures curve, the dollar weakening a bit, and equity markets being much weaker than our expectations," Deutsche Bank analyst Michael Hsueh said.
"In order for us to think that this is going to change into a more meaningful bull market, you would have to believe that the Fed is going to come out with an explicit reversal of their indicated direction, and to go into some kind of easing measures."
Heightened stock market volatility and fears that a slowdown in China could spill into the wider markets have led investors to cut the number of interest rate increases they expect from the U.S. Federal Reserve this year.
A correction lower in gold prices had been expected after they rose quickly over a short period of time. The metal rallied $200 to last week's peak from its January lows, with last week being its best since 2011.
Goldman Sachs's recommendation to short gold, prompted by the bank's belief that the recent fear-induced rally has been overdone, fed into a more cautious sentiment for the metal.
"Fears around China, oil and negative interest rates have likely been overstated in the gold price and other financial markets," it said in a Monday-dated note.
U.S. gold futures for April delivery settled down at $1208.20, and were last 2.84percent from where they stood late on Friday at $1,209.90. Most U.S. gold trading was closed on Monday.
Silver futures were down at $15.27 an ounce, while platinum was down 2.7 percent at $932.10 and palladium was down 0.7 percent at $508.