Bezos's comments give a rare glimpse into his interest in the auto industry. Amazon recently invested in two self-driving start-ups.Technologyread more
While investing often seems like a contrarian game where going against the flow feels like the better bet, the reality is that investors who bought the most-favored stocks...Hedge Fundsread more
"We are now embarking on a new Long March, and we must start all over again!" Xi Jinping said.Marketsread more
The launch comes as Apple's laptops have been criticized for a keyboard design that users say breaks easily and results in key presses resulting in doubled-up characters or...Tech Driversread more
Craig Irwin of Roth Capital Partners said Apple tried to buy Tesla six years ago for a higher price than where the stock now trades.Technologyread more
The White House has threatened to slap tariffs on apparel and footwear, leading retailers to speak out about how this would hurt business.Retailread more
Connecticut state Sen. Alex Bergstein's divorce case with her husband, Morgan Stanley managing director Seth Bergstein, has exposed her new romantic relationship with her...Politicsread more
Stock pickers are having their best year in a decade, according to Bank of America Merrill Lynch.Marketsread more
Comcast is working on a device to monitor people's health at home, as well as some media and communications services, according to people familiar with the plans.Technologyread more
As shopping has shifted online and styles have evolved, Ascena has been grappling with sagging sales and a large debt-load. Looking to stem the losses, Ascena is turning to...Retailread more
Binky Chadha, chief equity strategist at the firm, expects the market to pull back over the next three months before quickly bouncing back up.Investingread more
Gold prices steadied on Wednesday, clawing back from losses made earlier in the session, as a recovery in stock markets fizzled out on concerns over geopolitical and economic uncertainty, triggering investors to seek safety in the metal.
Spot gold fell 0.12 percent to $1,283.11 an ounce by 3:05 p.m. ET, having fallen to $1,278 an ounce earlier in the session.
U.S. gold futures settled $0.60 higher at $1,284.
"Gold's strength is due to the weakness in equities continuing. People are starting to run towards gold as a safe haven," Michael Matousek, head trader at U.S. Global Investors, said.
A respite to falling global equities earlier in the session proved only temporary, as a global index of stock markets turned negative when jitters over U.S. politics and the state of the world economy eclipsed a boost from Wall Street's quarterly earnings reports.
Trade negotiations between the United States and China were also dealt a blow as Beijing vowed a response against Washington's decision to formally proceed with the extradition of Meng Wanzhou, Huawei's chief financial officer, currently detained in Canada.
"Renewed safe-haven buying and portfolio diversification as investors seek protection from market turbulences, potential recessions, and growing bearish sentiment," are supportive factors to gold's outlook, analysts at Societe Generale said in a note.
Adding to gold's appeal was a falling dollar index, which touched a five-day low earlier in the session.
The dollar, which rose amidst trade tensions between the United States and China, overtook gold as investors' favored hedge against uncertainties in 2018.
However, analysts believe that the same is unlikely to happen this year, with a widely expected pause to the U.S. Federal Reserve's rate hikes weighing on the currency.
Gold tends to gain on expectations of lower interest rates, which reduce the opportunity cost of holding non-yielding bullion.
"Another rationale for the weaker dollar is that the U.S. national debt just keeps growing and gold appreciates alongside the U.S. debt," Matousek said. Earlier this month, Fed Chairman Jerome Powell raised concerns about the size of the U.S. debt.
Reflecting investor appetite for gold, holdings of SPDR Gold, the largest gold-based ETF, was at its highest since June 2018.
Meanwhile, palladium, which hit a record high of $1,434.50 an ounce last week on low inventories and rising demand, rose 0.22 percent to $1,348 an ounce.