Thousands of Canadian auto industry workers have been furloughed with more temporary layoffs coming as negotiations on a new labor contract between General Motors and the...Autosread more
U.S. officials, including Secretary of State Mike Pompeo, have accused Iran of orchestrating devastating strikes on Saudi oil installations over the weekend.Politicsread more
Rosengren was one of two central bank officials to vote against Wednesday's quarter-point rate reduction, and explained in a speech to the Stern School of Business at New York...Economyread more
The process will involve three 14-day operations involving $30 billion as well as continued overnight operations of at least $75 billion each.The Fedread more
"The president is right to make this the center point of the rising and sustained trade conflict," says Sen. Chris Coons.Politicsread more
Morrison and Trump were expected to discuss a range of issues during a bilateral meeting Friday morning, including the ongoing U.S.-China trade war and the rising tensions in...Politicsread more
Some businesses, mostly small- to mid-sized companies, are providing workers with paid time off to join the Global Climate Strike, while others are shutting down operations...Weather & Natural Disastersread more
FedEx's earnings disappointment and outlook warning earlier this week were a "wake-up call," says the "Mad Money" host.Investingread more
President Trump's criticism of Fed Chairman Jerome Powell has been more public because of Twitter, says economist Alan Blinder.Economyread more
A bipartisan group of senators is urging acting Food and Drug Administration Commissioner Ned Sharpless to immediately pull most e-cigarettes off the market, including market...Health and Scienceread more
More than 400 Chinese products will be temporarily exempted from tariffs that President Donald Trump's administration imposed last year.China Economyread more
Gold prices rose on Monday as the dollar slipped but gains were capped by nervousness ahead of a U.S. Federal Reserve monetary policy meeting and a rise in U.S. government bond yields.
The U.S. central bank meets on Tuesday and Wednesday. It is expected to keep benchmark rates on hold but could give a clear signal of rises to come, possibly in December.
If rates remain on hold, that could keep the U.S. currency under pressure, potentially making gold more attractive to buy. But higher rates would increase the opportunity cost of holding gold which yields nothing.
"The dollar overall is down a little, which is positive for precious metals and for gold in particular ... Economic data has not been too good, so they do not need to act immediately," said Quantitative Commodity Research analyst Peter Fertig.
"But there is a risk the Fed could surprise and that would have negative consequences for precious metals."
Also worrying for gold bulls is the rise in real yields such as those earned on U.S. inflation-linked bonds, making it harder to justify holding gold.
It is "concerning that the recent move higher in bond yields has also seen a move higher in real yields," Macquarie analysts wrote in a note.
"Gold has in fact stood up well so far ... the recent rise in real yields is more consistent with a gold price nearer $1,250/oz than today's $1,315/oz."
However, the return of Chinese investors after the Mid-Autumn Festival is expected to help bolster gold, as is strong technical support around $1,305, the 100-day moving average.
Also a plus is investor buying of physical gold, which can be seen in the holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, which rose more than one percent to 942.61 tonnes on Friday.
But offsetting that was data from the U.S. Commodity Futures Trading Commission showing hedge funds and money managers cutting their net long positions in COMEX gold contracts in the week to Sept. 13.