The massive market transformation this month that some on Wall Street called a "once in a decade opportunity" might have just been a one-off technical move because of taxes.Marketsread more
The Pentagon will deploy U.S. forces to the Middle East on the heels of the attack on Saudi Arabian oil facilities, United States Secretary of Defense Mark Esper announced...Defenseread more
Iran's audacious drone and cruise missile attack on Saudi Arabia's oil producing facilities has provided a critical test yet for the Trump administration's foreign policy. A...Politicsread more
Chinese trade negotiators suddenly canceled a visit to meet U.S. farmers after they wrapped up trade talks in Washington this week.Marketsread more
Shares of MasterCard are up 46% this year, and 1120% since 2011, getting a boost from the strong U.S. consumer.Investingread more
Blackstone Executive Vice Chairman Tony James says he's less optimistic now than before that the U.S.-China trade war could be resolved, but even a smaller deal could help...World Economyread more
President Trump also said he is "not looking for a partial deal" with Beijing, moving away from his suggestion last week that he would consider an "interim deal."Politicsread more
Progress on trade talks will determine how far market will move above new highs.Trader Talk with Bob Pisaniread more
"Sure, the trade war's taking its toll on business ... it's just not taking its toll where it was supposed to," Jim Cramer says.Mad Money with Jim Cramerread more
Joe Biden called on President Donald Trump Friday to release the transcript of a call with a foreign leader that is the subject of a whistleblower complaint. Biden described...Politicsread more
Gold prices rose on Tuesday as the dollar weakened on expectations that the U.S. Federal Reserve will not raise interest rates at its September policy meeting.
Spot gold rose 1.76 percent to $1,349.64 an ounce while U.S. gold futures settled up $27.30 an ounce at $1,354 and ounce and were last 2.07 percent higher at $1,354.20, after hitting their highest since August 26.
The dollar index was last down 1.03 percent against a basket of currencies at 94.86.
The metal hit a two-month low of $1,301.91 last Thursday on prospects that a strong non-farm payrolls report for August could put the Fed on track to raise rates soon. Gold bounced back, however, when the data missed expectations.
"An isolated rate hike in September would not have a substantial negative impact on gold," Danske Bank senior analyst Jens Pedersen said.
"What would be important for the gold market is whether a rate hike this year signals that now the Fed is ready to speed up the hiking cycle, because then the whole normalization of rates would be back on the agenda."
Gold is highly sensitive to rising U.S. interest rates, which increase the opportunity cost of holding the non-yielding asset while boosting the dollar, in which the metal is priced.
New U.S. data releases and any speeches from Federal Reserve officials will be watched closely for clues as to the timing of any rate increases.
"The idea that the Fed is going to move, if not in September but in October, is limiting people from buying gold," said Dominic Schnider of UBS Wealth Management in Hong Kong, adding that prices could drop below $1,300 in the short term, with a good resistance level of $1,275.
Spot gold may retrace to a support at $1,315 per ounce, as it failed again to break through resistance at $1,330, according to Reuters technical analyst Wang Tao.
Spot silver was up 2.8 percent at $20.04.
South Africa's biggest platinum mine workers' union and the industry have failed to reach a deal on pay, the union said on Monday, raising the prospect of industrial action in the world's top producer of the white metal.