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 were edged up on Tuesday 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
The price of gold rose on Tuesday as the dollar edged lower against a basket of currencies and concerns over the global economic outlook trumped some expectations that the U.S. Federal Reserve could raise interest rates this year.
The rise for gold picked up momentum after it broke above a key chart level just below $1,335 an ounce, analysts said.
Spot gold was up 0.44 percent at $1,340.96 an ounce, off an earlier low of $1,330.03 an ounce, while U.S. gold futures for December delivery were up $5.90 an ounce at $1,347.20. Gold futures settled at $1346.70 an ounce.
The metal slipped to its lowest level in a week on Monday, under pressure after forecast-beating U.S. non-farm payrolls employment data on Friday revived speculation that the Fed could press ahead with a rate hike. However, it quickly found support.
"There is still a view that we could see a rate hike this year but there are enough risk issues out there to justify holding gold," Citigroup analyst David Wilson said.
CME Group's Fed Watch tool showed traders see almost a 50-50 chance of a U.S. rate hike by December, compared with 30 percent before the payrolls data.
Gold is highly sensitive to rising U.S. interest rates, which lift the opportunity cost of holding non-yielding bullion, while boosting the dollar, in which the metal is priced.
Fed policymaker Jerome Powell was quoted as saying on Monday that the U.S. economy is at increasing risk of becoming trapped in a prolonged phase of slow growth that points to a need for lower interest rates than previously expected.
Investment interest in gold-backed exchange-traded funds was less buoyant than in recent months. The largest, New York-listed SPDR Gold Shares, reported a 6.5-tonne outflow on Monday, its largest in a month.
Trade in the major Asian gold markets was quiet overnight, MKS said in a note, with light demand again from the onset countered by diminished Comex selling.
"The Shanghai Gold Exchange open provided little in the way of direction, investors on the exchange being light buyers although the premium had moved right back into neutral territory around $1.00 over the loco London price," it said.
Spot palladium, which earlier touched a two-week low at $693.30, was up 0.45 percent at $693.40.