Stocks dropped after Donald Trump ordered that U.S. companies find alternatives to their operations in China.US Marketsread more
"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread more
President Trump again rips into Federal Reserve Chairman Jerome Powell, comparing him to Chinese President Xi Jinping.Politicsread more
Multinationals that rely on the supply chain from China are tumbling after President Donald Trump ordered them find alternatives to their Chinese operations.Marketsread more
Powell repeats his pledge to keep the economic expansion going while acknowledging that tariffs and other factors are causing growth to slow.The Fedread more
The Koch brothers financed one of the most influential political networks in the modern era. The sprawling political empire includes conservative and libertarian nonprofits...Politicsread more
The president tweeted Friday morning that he was ordering "our great American companies" to "immediately start looking for an alternative to China."Marketsread more
These are the stocks posting the largest moves in midday trading.Market Insiderread more
The two American car companies are among the top exporters of U.S.-produced vehicles to China along with BMW and Daimler/Mercedes-Benz, according to industry data obtained by...Autosread more
China says the new tariffs will begin Sept. 1 and Dec. 15. That's when President Trump's latest tariffs on Chinese goods are to take effect.Marketsread more
The dollar fell on Friday following a speech from Federal Reserve Chair Jerome Powell and after President Donald Trump ordered U.S. companies to find alternatives to their...Currenciesread more
Gold steadied on Wednesday, crawling up slightly from the lowest in nearly four months hit during the previous session, with bullion pressured by a robust dollar as U.S. stocks took a breather following a strong rally.
Spot gold was up 0.2 percent at $1,274.24 per ounce, a day after hitting its lowest since Dec. 26 at $1,265.90.
U.S. gold futures settled $6.20 higher at $1279.40.
This "insignificant move in gold is just a technical bounce from the hard sell-off yesterday," said David Meger, director of metals trading at High Ridge Futures.
U.S. stocks edged slightly higher after a record rally in the prior session, pointing to cooling demand for riskier assets, the dollar gained, holding near a 22-month high against its peers, denting bullion's appeal.
"A good portion of gold's weakness has come from recent highs in the dollar against major currencies, and lack of safe-heaven buying amidst equity markets continuing higher and slightly better global economic outlook." Meger said.
Recent data from the United States and China have assuaged fears of global downturn, dampening safe-haven demand for gold, which has fallen more than 5 percent from its 2019 peak touched in February.
Spot gold could hover above support at $1,264 an ounce or bounce toward resistance at $1,284, said Reuters technical analyst Wang Tao.
Investors now await release of U.S. GDP data later this week. The Atlanta Federal Reserve's GDPNow model projects between 2.2 percent and 3.4 percent growth for the world's largest economy, which would beat analysts' estimates of 2.1 percent growth.
Reflecting bearish investor sentiment, holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell 0.3 percent on Tuesday to 749.63 tonnes, the lowest since Oct. 23. SPDR Gold holdings have dipped about 5 percent this year.
However, the downside for prices was likely to be limited by increased central bank buying, "as well as positive signs that the physical market is recovering," analysts from Standard Chartered wrote in a note on Tuesday.
In other metals, silver was up 0.7 percent at $14.92 an ounce after touching its lowest since Dec. 26 at $14.71 in the previous session.
Platinum fell 0.1 percent to $883.97 per ounce, while palladium rose 1.3 percent to $1,408.96.