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
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
Gold prices rose on Wednesday, hitting their highest since August, 2016, as investors sought insurance against possible inflation after U.S. Treasury Secretary Steven Mnuchin welcomed a weaker dollar.
The dollar index touched three-year lows after Mnuchin said a softer dollar was good for the United States. A decline in the dollar makes commodities priced in the greenback cheaper for buyers using other currencies.
Silver was up 3 percent at $17.57 an ounce, the highest since mid-September.
"It all comes down to if the dollar continues to stay weak and inflation trends upwards, that would be confirmation that we have inflationary pressures building, which would move gold up further," said Rob Lutts, chief investment officer of Cabot Wealth Management in Salem, Massachusetts, adding the next support level would be around $1,360 per ounce.
"If we can clearly get above the 50 to 60 range, as high as 75 or 80, that will get gold to break out of that range weve been trading in."
U.S. President Donald Trump was due to speak on Friday at the World Economic Forum in Davos, Switzerland. Investors are concerned he will use the speech to signal a more protectionist policy stance.
"Global investors are also concerned about potential trade wars ... which is stirring up some risk-aversion trade. That, in turn, is supporting gold," said Richard Xu, a fund manager at HuaAn Gold, China's biggest gold exchange-traded fund. "I think gold prices will continue to trend higher along with other commodities, so $1,400 (an ounce) is our near-term target," Xu said.
Markets expect an increase to U.S. interest rates in March, which would increase the opportunity cost of holding non-yielding bullion while boosting the dollar, in which gold is priced.
In other precious metals, silver touched a 3-1/2-week low of $16.73 in the previous session. "Silver has been following gold," said George Gero, managing director of RBC Wealth Management in New York. "Option expiration is not expected to affect silver much because silver options are not as big as gold options."