Trump said he will raise tariffs on $250 billion in Chinese goods to 30% and hike duties on another $300 billion in products to 15%.Politicsread more
China said on Saturday it strongly opposes Washington's decision to levy additional tariffs on $550 billion worth of Chinese goods and warned the United States of consequences...Politicsread more
The European Union will respond in kind if the U.S. imposes tariffs on France over digital tax plan, EU chief Donald Tusk told G-7.Technologyread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
The final week of August could be highly volatile as markets fret over the economy and the latest developments in trade wars.Market Insiderread more
Federal Reserve Vice Chair Richard Clarida said Friday that the global economy has deteriorated in the past month.Marketsread more
The latest escalation in the trade war ups the odds the economy will fall into recession and that the Fed will aggressively cut rates.Market Insiderread more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread more
Recent trade friction between the two Asian powerhouses has morphed into a dispute with political implications that go far beyond the region.Asia Politicsread more
"My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?" Trump wrote amid a series of tweets that rattled markets Friday.Politicsread more
Gold prices erased their gains on Wednesday after the U.S. Federal Reserve announced it raised its benchmark short-term interest rate by a quarter percentage point.
The Fed also indicated that two more rate increases are likely.
Spot gold was down 0.08 percent at $1,294.70 an ounce at 2:17 p.m. ET, down nearly 0.3 percent from shortly before the Fed's announcement.
U.S. gold futures for August delivery were 0.11 percent lower at $1,298 per ounce.
The dollar, which measures the greenback against a basket of six major currencies, was up 0.1 percent at 110.55 , after touching 110.68, its highest since May 23.
Gold is highly sensitive to U.S. interest rates, which lift the opportunity cost of holding non-yielding bullion and boost the dollar, in which it is priced.
The European Central Bank (ECB) meets on Thursday, when it could signal intentions to start unwinding its massive bond-purchasing program.
The Bank of Japan's two-day monetary policy meeting also begins Thursday.
The yellow metal is expected to drop sharply towards a range of $1,263-$1,278 per ounce as its consolidation within a wedge is ending, Reuters technical analyst Wang Tao said.
In other precious metals, silver flattened out at $16.854 an ounce. It hit a seven-week high of $16.95 in the previous session.
Palladium was down 0.86 percent at $1,009.
Platinum was 0.49 percent higher at $898.40 per ounce, after hitting a one-week low of $889.40 earlier in the session.