The yield on the benchmark 10-year Treasury note fell below 2% for the first time since November 2016 on Wednesday — breaching a key psychological level.Bondsread more
The Fed came very close to promising a rate cut Wednesday, and now markets are focused on a possible July rate cut.Market Insiderread more
Markets had expected the central bank to keep its benchmark interest rate steady while setting up a cut at the July meeting.The Fedread more
Powell said policymakers are concerned about some of the recent economic developments and see a growing case for easier policy.The Fedread more
Amazon and Blue Origin founder Jeff Bezos gave more insight into his space company's lunar plans on Wednesday.Technologyread more
As the presidents of U.S. and China near a highly anticipated meeting on trade, the gap in both sides' expectations regarding a deal remains wide.World Politicsread more
Delta warned travelers that a technical problem could delay flights on Wednesday.Airlinesread more
The Fed chief said that despite reports that Trump was looking to demote or fire him, he doesn't plan on leaving anytime soon.The Fedread more
If the Trump administration and Congress fail to reach a spending agreement, the White House will offer to keep the government funded at its current levels for a year, Mnuchin...Politicsread more
With bold and targeted steps, economists say, government can increase opportunity and incomes for many more people in ways that strengthen, not weaken, American capitalism.Politicsread more
Investors need to be cautious because the economy will get hurt the longer the trade war drags on, Jim Cramer says.Mad Money with Jim Cramerread more
Gold fell to a 1-1/2-week low on Wednesday, erasing earlier gains as the dollar index jumped, though a retreat in global stocks after Tuesday's record high prevented deeper losses.
Spot gold was down 0.71 percent at $1,322.13 an ounce by 3:34 p.m. EDT (1834 GMT), after falling to the lowest since Sept. 1 at $1,320.51. U.S. gold futures for December delivery settled down 0.5 percent at $1,326.1.
"We had a lot of positions put on last week up at the highs, and those were weak short-term positions. We've seen a lot of them taken off," said Bill O'Neill, partner with Logic Advisors in Saddle River, New Jersey, referring to gold's roughly one-year high reached last week.
"We're not in a fearful flight to haven atmosphere this week. We're in a calmer, little more cautious tone and that's weighing on gold."
The metal's move lower came as the dollar turned higher after a report showed U.S. producer prices rebounded in August and as traders turned their focus to U.S. consumer inflation data. A firmer dollar makes gold more expensive for holders of other currencies.
Concerns over North Korea's nuclear ambitions were a key factor driving spot gold prices to 13-month highs last week at $1,357.54 an ounce. An easing of those worries helped lift equities to record highs early this week. Demand for gold, seen as a safe investment in uncertain times, revived earlier after U.S. President Donald Trump pledged stronger measures against North Korea and Pyongyang promised to fight off what it said was the threat of a U.S. invasion.
"This seems to be currency led," Saxo Bank's head of commodity research Ole Hansen said, about the gold market's move lower.
A gauge of global equity markets edged lower. Investors in gold-backed exchange-traded funds were buying as prices fell. Holdings of the largest gold-backed ETF, New York's SPDR Gold Trust, rose 0.35 percent on Tuesday from Monday.
Investors awaited U.S. consumer inflation data due on Thursday, which should give further clues about the pace of U.S. interest rate increases. A run of weak inflation readings has lowered expectations the Federal Reserve will raise rates in December.
Among other precious metals, silver was down 1.06 percent at $17.72 an ounce.