A quarter of the S&P 500 companies report earnings next week, and that could buffet the market as investors await the July Fed meeting.Market Insiderread more
Iran's Revolutionary Guard claims a British tanker it still holds, Stena Impero, failed to follow international maritime rules.World Newsread more
Amazon hires Trump-allied lobbyist Jeff Miller as battle for Pentagon contract heats up.Politicsread more
In a series of tweets, the president addressed an unusual controversy stemming from a speech delivered Thursday by New York Fed President John Williams.Marketsread more
"You need to understand that we're about to embark on the busiest week of the year for industrial earnings," CNBC's Jim Cramer says.Mad Money with Jim Cramerread more
Boston Federal Reserve President Eric Rosengren is lining up against an apparent push to cut interest rates, telling CNBC in an interview Friday that the central bank can...The Fedread more
The MTA reported that the 1, 2, 3, 4, 5 and 6 trains are all facing delays due to a network communications issue impacting service in both directions, NBC New York reports.Transportationread more
Companies aren't waiting for the U.S.-China trade war to be resolved, says the head of the world's biggest money manager.Investingread more
US officials including Treasury Secretary Steven Mnuchin and White House economic adviser Larry Kudlow will host a meeting at the White House on Monday of semiconductor and...Technologyread more
Trump's constant berating of the Fed and its actions does not influence the central bank's decisions, Boston Fed's Eric Rosengren says.The Fedread more
The lawsuits allege J&J's talc-based baby powder contained asbestos and caused ovarian and other cancers.Health and Scienceread more
Gold slipped on Monday as the U.S. dollar strengthened and precious metals prices remained within a tight range as investors awaited key U.S. data.
Spot gold lost 0.27 percent at $1,314.16 per ounce by 3:30 p.m. ET, erasing earlier gains after the U.S. dollar, in which it is priced, turned positive.
U.S. gold futures for June settled down $2.50 at $1,318.20.
The dollar rose on Monday, erasing earlier losses, as investors questioned whether a rally that last week sent the greenback to more than four-month highs had run out of steam.
"Gold is largely paying attention to the dollar," said John Caruso, senior market strategist at RJO Futures.
"We are seeing a lot of back and forth action with no news. Tomorrow with retail sales, everything could change," Caruso added.
U.S. retail sales growth would suggest a strengthening economy and give the Federal Reserve more reason to raise interest rates. Higher U.S. rates make gold a less attractive investment, because bullion does not offer interest. A U.S. interest rate hike, possibly in June at the Fed's next meeting, would weigh on gold, though analysts say that would be unlikely to push gold significantly lower.
"Over the short term, and particularly during May, we see gold trading between $1,285 and $1,338 an ounce as continued strength in the dollar and rising rates pressure values lower," said INTL FCStone analyst Edward Meir.
However, gold is expected to remain in this year's narrow range, mostly between $1,300 and $1,350, unless supply or demand fundamentals dramatically change.
"Gold's trading range in the first four months between low and high price was the lowest in percentage terms since it was fixed to the dollar in 1971," said Macquarie commodities strategist Matthew Turner.
Further bullion support could come from rising security risks in the Middle East after the United States said it would withdraw from the 2015 international nuclear deal with Iran and reimpose sanctions. Traders said falling gold imports by India, a top consumer, were also undermining sentiment.