"Whilst there is a big dispute at the moment, I think there's also potential for resolution," UBS chairman Axel Weber says of the U.S.-China trade negotiations.World Economyread more
The Kingdom and oil and gas industry have been slow to shore up defenses, raising red flags about the possibility of longer term fall-out in the region.Technologyread more
Tensions between South Korea and Japan may ultimately disrupt the high-end tech sectors, says Heenam Choi, CEO at South Korea's sovereign wealth fund.Traderead more
On Sunday, the 71st Primetime Emmy Awards will honor the best comedies, dramas, limited and variety series from the last year.Entertainmentread more
Removing Neumann is a difficult decision for Son, who has long believed in WeWork and Neumann's vision to quickly expand the company.Technologyread more
Datadog went public on Thursday and instantly hit a $10 billion valuation, becoming the fourth cloud software debut to reach that level this year.Technologyread more
There are challenges with Iran, North Korea, the Afghan Taliban, Israel and the Palestinians — not to mention a number of trade pacts.Politicsread 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
In his new memoir, "The Ride of a Lifetime," Iger explains why he decided against the deal to buy Twitter.Technologyread more
In perhaps Buffett's first televised profile, he explained a method of investing that prioritizes bargains and makes use of an occasional baseball analogy.Marketsread more
Gluskin Sheff's David Rosenberg reinforces his recession forecast following the Federal Reserve's September meeting.Futures Nowread more
Gold prices fell on Friday after a European Central Bank (ECB) official called for scaling back the bank's stimulus program, although losses were capped when weaker-than-expected U.S. economic data raised questions about further interest rate hikes. ECB board member Sabine Lautenschlaeger made the most explicit call so far from an ECB policymaker for paring the bank's 2.3 trillion euros money-printing program.
"For gold this is bad news because this continues the trend of the market pricing in the normalization of monetary policy," said Jens Pedersen, senior analyst at Danske Bank in Copenhagen.
But he said there had already been plenty of headlines about the ECB planning an exit from its bond buying and the U.S. Federal Reserve reducing its balance sheet after its big quantitative easing program.
Spot gold was down 0.6 percent at $1,321.88 an ounce, on track for its biggest weekly decline since early July.
U.S. gold futures for December delivery settled down 0.3 percent at $1,325.20 an ounce.
Those "normalization" actions by central banks tend to pressure gold. Gold briefly pared losses on news that U.S. retail sales unexpectedly fell in August and industrial output dropped for the first time since January, in contrast to Thursday's strong U.S. inflation data.
Gold largely shrugged off North Korea's firing of another missile over Hokkaido, Japan.
"Markets are paying much more attention to global economic data," said Rob Haworth, senior investment strategist at U.S. Bank Wealth Management in Seattle. "The synchronized global growth story is gaining momentum and the uptick in inflation seems to mean that the Fed has plans to make their planned moves."
The Fed's two-day monetary policy meeting begins on Sept. 19. Commerzbank said August gold imports into India, the world's second biggest gold consumer, were the lowest so far this year. In other precious metals, platinum's discount to gold fell to around $360, the lowest according to Reuters data dating back to 1985.
Platinum dropped 1 percent to $969 an ounce after touching $959.95, the lowest since Aug. 16. This is also around where the 50-day moving average crossed above the 200-day moving average. The metal was down 3.7 percent for the week, on track for its biggest weekly drop since March.
Silver fell 0.8 percent to $17.61 and was set to mark its first weekly decline in four.
Palladium rose 0.2 percent to $924.10 and was heading for a second weekly decline.