Among the many ways Trump has shattered White House norms, his impulsive public communications rank among the most consequential. By inspiring investors or spooking them, his...Politicsread more
A federal judge in New York City on Wednesday said Deutsche Bank and Capital One can turn over financial documents related to President Donald Trump and his businesses in...Politicsread more
CNEX, backed by Microsoft and Dell, filed new allegations in a Texas suit accusing China's Huawei and an executive of trade secrets theft.Technologyread more
With Amazon and Walmart facing regulatory hurdles in India, Reliance's Mukesh Ambani isTechnologyread more
Japan's Panasonic said on Thursday it has stopped shipments of certain components to Huawei Technologies to comply with U.S. restrictions on the Chinese company.Technologyread more
Treasury Secretary Steven Mnuchin told CNBC on Wednesday that a trip to Beijing to resume trade negotiations has not been scheduled yet, reducing hopes of a speedy resolution...Asia Marketsread more
Research analyst Adam Jonas, a long-time Tesla bull, said it's extremely unlikely that big tech firms like Apple or Amazon would buy it.Technologyread more
The disclosures come as a federal judge ruled Wednesday that two other banks — Deutsche Bank and Capital One — can give financial documents to Congress, NBC News reports.Politicsread more
Shares of L Brands, the owner of Victoria's Secret and Bath & Body Works, rose nearly 11% in aftermarket trading Wednesday after the company reported it beat revenue and...Retailread more
Officials remained firmly committed to a "patient" policy stance at their meeting earlier this month.The Fedread more
The president may have more success in the court fights to come, including appeals in the cases decided this week. But the two losses are nonetheless a dramatic setback for...Politicsread more
Gold fell to its lowest in more than a week on Friday and was on track to mark its biggest weekly decline in more than a month, as the dollar climbed on robust U.S. economic data ahead of a U.S. Federal Reserve meeting next week.
Spot gold eased 0.3 percent to $1,238.86 per ounce as of 11:14 a.m. EST (1614 GMT). Earlier in the session, prices hit their lowest since Dec. 4 at $1,232.39. The metal is down about 0.7 percent so far this week.
U.S. gold futures were down 0.4 percent at $1,242.40 per ounce.
The dollar rose to a 19-month high after data showed U.S. consumer spending appeared to gather momentum while industrial production rebounded in November.
"The strength of the dollar has weighed across the complex. The key driver in the next few sessions is going to be the markets expectations for the Fed," said Suki Cooper, precious metals analyst at Standard Chartered Bank.
Markets are awaiting the Federal Open Market Committee (FOMC) meeting on Dec. 18-19, where the U.S. central bank is widely expected to raise interest rates. The focus, however, would be on the outlook for 2019.
"While gold extended its trading range to the $1,250 level (earlier this week), it has come off that level, and with the Fed rate hike next week, any gold price rise will be hampered by expected dollar strength," said Ronan Manly, a precious metals analyst at Singapore-based dealer BullionStar.
Gold prices rose to a five-month peak of $1,250.55 an ounce on Monday, but has given up all the gains as the dollar strengthened against a basket of major currencies.
"With China's economy slowing, along with Germany and parts of the European Union, one would expect interest in the gold market," Walter Pehowich, executive vice president of investment services at Dillon Gage Metals, wrote in a note.
"But with the dollar being so strong ... it's going to take a major news story to bring the price of gold back in favor with investors."
Among other precious metals, spot palladium was down 2.1 percent at $1,234 per ounce, after hitting an all-time high of $1,269.25 on Thursday. The metal was on track to mark its third week of gains with prices up about 1 percent so far this week.
"The palladium market is still set to be in deficit in 2019, but you could see some profit-taking and some concerns over the auto-market weighing on the palladium prices into the year end," Standard Chartered Bank's Cooper said.
Silver fell 1.1 percent to $14.60 per ounce.
Platinum was down 0.4 percent at $789.70 per ounce and was set to post a sixth straight weekly decline.