Chinese officials are expected to be in Washington this week to hold consultations with the U.S. ahead of high-level trade talks in October.World Economyread more
Saudi Arabia's defense spending is the world's third-largest — behind the U.S. and China, says Gary Grappo, former U.S. ambassador to Oman.Energyread more
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
After a series of setbacks on the road to an initial public offering, the parent company of real estate start-up WeWork is delaying the move, sources told CNBC Monday.Technologyread more
"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
Gold prices retreated to a near five-month low on Tuesday as investors braced for a widely expected U.S. interest rate increase this week and looked for clues about further hikes from the Federal Reserve.
Spot gold fell 0.1 percent to $1,240.64 an ounce, after hitting its lowest since July 20 at $1,235.92.
U.S. gold futures for February delivery settled down $5.20, or 0.4 percent, at $1,241.70 per ounce.
Global markets are watching the U.S. central bank's two-day meeting for clues about the Fed's future rate path.
"The rise is already in the price so it's more about the outlook the Fed gives," said ABN Amro commodity strategist Georgette Boele.
Gold is sensitive to rising U.S. interest rates as these increase the opportunity cost of holding non-yielding bullion and boost the dollar, in which it is priced. Analysts at Standard Chartered noted that gold would likely recover quickly from its recent lows if the meeting outcome proves to be a small rise.
In wider markets, world stocks paused following gains for three straight sessions, while the dollar strengthened.
Oil rose above $65 a barrel for the first time since mid-2015 as an unplanned shutdown of the UK's biggest North Sea oil pipeline supported a market already tightened by OPEC-led production cuts.
"(The) opportunity cost of holding gold is going up because if you hold gold then you miss the opportunity of higher equity prices or maybe higher bitcoin prices," said Societe Generale's head of metals research Robin Bhar. "Gold doesn't have a lot of love going forward at the moment."
Bhar pointed out that this was to be Fed Chair Janet Yellen's last meeting and that she was therefore likely to keep any forward-looking statements consistent with previous ones.
Among other precious metals, silver fell 0.39 percent to $15.65 an ounce.
Platinum fell for its eight straight session, down 1 percent at $876 ounce, after earlier touching its lowest since February 2016 at $871.10. Platinum is more heavily used in diesel vehicles, which have fallen out of favour since Volkswagen's emissions-rigging scandal. Its sister metal, palladium, has benefited from the switch to petrol engines and expectations for growth in hybrid gasoline-electric vehicles.
Palladium was rose 0.17 percent to $1,011.70 an ounce. The platinum discount to palladium widened to around $120 last week, the steepest since April 2001.