Organizers claimed that nearly 2 million Hong Kong protesters took to the streets Sunday in a rally to demand the city's top official resign a day after she suspended — but...China Politicsread more
The Fed is not likely to make a move on interest rates when it meets next week, but it should clear the way for a rate cut later in the summer.Market Insiderread more
Software engineers straight out of college often make six-figure salaries, not counting equity compensation.Technologyread more
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
In the survey, 66% of Democratic primary voters say they'd be enthusiastic or comfortable about Biden as their nominee to take on President Trump in the 2020 election. Just...Politicsread more
You can save money by doing a quick check and unsubscribing from apps you no longer use.Technologyread more
Investors are holding out hope that Fed Chair Jerome Powell lays the groundwork for a rate cut as soon as July. Even just one this year would be a mistake, says Amanda Agati,...Trading Nationread more
A company spokesperson said the outage was the result of a "an internal technology issue" and was not security related.Retailread 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
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
Luckin's opportunity in China is "one of the world's greatest retail growth opportunities," according to KeyBanc Capital Markets.Investingread more
Gold rallied Wednesday, hitting session highs over $1,240 an ounce, pushing gold miners higher and shrugging off a steadier dollar following better-than-expected U.S. economic data.
Bullion, seen as a shelter for risk-averse investors, has rallied about 16 percent this year in the face of tumbling equities and fears of a global economic slowdown.
"We are still in the phase of investors filling their boots and that means the retracement we are seeing in gold is likely to be used as a buying opportunity," Saxo Bank senior manager Ole Hansen said.
On Wednesday, gold had started the day on the back foot along with other assets perceived as safer, including the Japanese yen, due to a rally in stock markets.
But a retreat in stocks after oil prices slipped generated renewed demand for the metal.
Gold rebounded even as the dollar gained 0.1 percent against a basket of currencies, after data showed the U.S. private employers added 214,000 jobs in February, above economists' expectations.
Investors will be watching more U.S. data to gauge the impact on stocks and the Federal Reserve's monetary policy, with the most important release being non-farm payrolls on Friday.
While gold faces firm resistance at $1,250-$1,260, "the market has built a solid and supportive base above $1,200" and there is enough risk sentiment and uncertainty to support the metal, HSBC said in a note.
"Elevated uncertainty among market participants is usually positive for gold, which is seen as a safe haven," Commerzbank analyst Daniel Briesemann said.
"Gold is definitely well supported by ETF inflows...as long as these continue, then gold should be in demand and the gold price could easily gain more ground."
Flows into bullion-backed exchange-traded funds (ETFs) continued to increase. Assets in SPDR Gold Trust, the world's top gold ETF, rose 1.15 percent on Tuesday to 786.20 tonnes, the highest since September 2014.