President Donald Trump said Monday he's in no rush to respond to a coordinated attack that hit Saudi Arabia's oil industry over the weekend.Marketsread more
The price of oil could go sharply higher, depending on the duration of the disruption at Saudi oil facilities and whether there is a military response.Powering the Futureread more
Energy stocks, one of the worst-performing sectors this year, spiked Monday after an attack on Saudi Arabia's heart of oil production Saturday sent oil prices soaring.Marketsread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
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"The United States military, with our interagency team, is working with our partners to address this unprecedented attack and defend the international rules-based order that...Politicsread more
Crude oil's spike following attacks on Saudi Arabia's energy supply has experts weighing whether or not the gains will last.ETF Edgeread more
"In the old days, the averages would've plunged on this kind of oil shock. I know because I've lived through a bunch of them, starting in 1973," Jim Cramer says.Mad Money with Jim Cramerread more
Traders in the fed funds futures market on Monday were pricing in a 34% chance that the Fed will stay put on rates.The Fedread more
The meeting comes amid months of stalled trade talks between Washington and New Delhi, resulting in both sides taking retaliatory measures.Asia Politicsread more
Gas prices could rise by about 20 cents per gallon "starting tomorrow," oil analyst Andy Lipow says Monday.Oil and Gasread more
Warren Gilman, chairman and CEO of CEF Holdings, the told CNBC's "Squawk Box" that he thought gold had seen its highs for 2016. CEF is a Hong Kong-based investment firm owned by billionaire Li Ka-shing's Chueng Kong Holdings and Canadian Imperial Bank of Commerce.
"Gold still has a problem with the concept of rising interest rates," Gilman said. "You see it every time; you have a deferral of this decision and gold has this wonderful relief rally, but [it will come off]."
Spot gold prices hit a two-week high of $1,336.8 an ounce after the Fed said on Wednesday that it would keep rates steady, and traded around $1,333 an ounce in early Asian trade.
"If we're looking at points of entry, times to make additional investment, I think right now, gold has probably gotten a little bit ahead of itself," Gilman said.
While he said he was optimistic about the long-term prospects for gold prices, the fact the Fed was likely to next raise interest rates in December 2016 would be a near-term negative for the yellow metal.
Higher interest rates will dampen gold prices as the precious metal doesn't offer a yield but incurs an opportunity cost to the investor for holding it. A rise in interest rates will also boost the dollar, which gold is traded in globally, making it more expensive for investors outside the U.S. to buy the metal.
But gold investors needed to remember that, despite this effect, interest rates overall would remain relatively low in the medium term, and thus still providing support for gold prices, Gilman advised.
"Gold has to get out of this morass of celebrating the deferral of interest rate rises. The fact of the matter is, it's coming, it's going to happen ... Gold has to give the finger to rising interest rates and say 'you know what, I don't care, I'm going to go up anyway'," he said.