The escalating trade war between Washington and Beijing dominated discussions at the G-7 gathering in France.Politicsread more
The latest round of tariff announcements in the last few days means that by the end of the year, essentially all Chinese goods exported to the U.S. will be subject to duties.China Economyread more
Futures fell after Trump said the U.S. will raise tariffs on more than $500 billion worth of Chinese imports, increasing trade tensions.Marketsread more
As Washington and Beijing continue to up the ante in their protracted trade fight, the potential of a recession in the U.S. is now "the biggest concern," according to Standard...US Economyread more
Tensions stemming from the U.S.-China trade war escalated sharply over the last few days, with much happening as Asian markets were shut down for the weekend.China Economyread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
Neither the U.S. nor China wants to be seen as the party that derailed trade talks, says William Reinsch of Center for Strategic and International Studies.World Economyread more
China said Friday it will be resuming 25% duties on U.S. autos, and a further 5% on auto parts and components.Asia Marketsread more
World leaders, environmental groups and celebrities have publicly decried the vast swaths of forest being destroyed by the fires.World Newsread more
Education Minister Ong Ye Kung says the Singapore government has been preparing for the challenge of an aging workforce "for the past 20 years."Employmentread more
Megvii is known for its facial recognition technology and while revenue grew over 350% in 2018, its losses have widened.Technologyread more
Gold pared gains on Wednesday as the U.S. dollar came off its lows on strong data from the U.S. service sector index.
Having touched its lowest since mid-August on Tuesday, spot gold was up 0.35 percent at $1,276.0699 per ounce by 3:35 p.m. EDT. Earlier on Wednesday, it reached a high of $1,282 per ounce.
U.S. gold futures for December delivery settled up 0.31 percent at $1,278.60 per ounce.
"We had a number of days of decline in a row, and once we had some dollar softness, there was an excuse for gold to rally a little," said Rob Haworth, senior investment strategist at U.S. Bank Wealth Management in Seattle.
A weaker dollar makes dollar-priced gold cheaper for non-U.S. investors.
Investors would be listening closely to comments by Fed Chair Janet Yellen later Wednesday at a Federal Reserve Bank of St. Louis event, for more hints about possible U.S. interest rate increases through 2018, Haworth added.
The greenback eased against a currency basket after a Politico report said Fed Governor Jerome Powell was favored by U.S. Treasury Secretary Steven Mnuchin as the new Fed chair over former governor Kevin Warsh. Yellen's term expires in February.
Powell is seen as more dovish than Warsh, who has criticized the Fed's bond-buying program in the past.
Dollar money market futures were pricing in about a 70 percent chance of a rate hike by December, but a more dovish Fed candidate would likely prompt investors to bet on a slower retreat from the current loose monetary policy.
The U.S. dollar pared its losses after data showed a service sector index increasing to its highest level in more than 12 years.
Global equities hit a fresh intra-day high, helped by signs of strong economic growth worldwide, boosting the likelihood that the Fed will raise rates at its December meeting.
Soaring equities tend to dent the appeal of gold, seen as a safe haven.
"We still feel comfortable with our cautious view on gold as the rebound of the dollar should continue while the slide in (gold) prices increases the risk of further position squaring in the futures market and could trigger selling in the physical market," said Julius Baer in a note.
Silver dipped 0.14 percent at $16.62 an ounce. Platinum rose 0.61 percent at $913 an ounce, while palladium climbed 1.20 percent at $926 per ounce. The sister metals, widely used autocatalysts, hit price parity for the first time in 16 years last week.