Stocks rose on Friday, but notched weekly losses as investors worried the U.S.-China trade war is hurting economic growth.US Marketsread more
The combination of mounting recession fears, bets on a more cautious Fed and a regular uptick in market volatility could spell more losses.Marketsread more
The therapy, Zolgensma, is a one-time treatment for spinal muscular atrophy — a muscle-wasting disease and leading genetic cause of infant mortality, affecting 1 in every...Biotech and Pharmaceuticalsread more
SpaceX has raised just over $1 billion in financing since the beginning of the year.Investing in Spaceread more
An analyst for Ark Invest, which has a major investment in Tesla, says recent drastic price-target cuts by others on Wall Street are missing the big picture.Investingread more
Former Foreign Minister Boris Johnson is seen as the bookmaker's favorite to succeed outgoing Prime Minister Theresa May.Europe Politicsread more
Apple bought Tueo Health, which was developing tech to help parents monitor asthma symptoms in children, using a mobile app and commercial breathing sensors.Technologyread more
United Airlines will take its 14 Boeing 737 Max jets off its schedule for another month, through Aug. 3, canceling another 1,290 flights.Airlinesread more
Trade could be a big factor for markets in the week ahead, but investors will also be attuned to fresh inflation data and the bond market, which is flashing new worries about...Market Insiderread more
About three dozen House Democrats have called for impeachment hearings on President Donald Trump, a billionaire's TV ads rip the House for "doing nothing," and legal experts...Politicsread more
The Trump administration on Friday invoked a rarely used provision in federal law to bypass congressional review of arms sales to Saudi Arabia, citing threats the kingdom...Politicsread more
Gold steadied on Wednesday, holding just below the key $1,300 level, as global stocks retreated, pointing to reduced appetite for riskier assets while investors awaited clarity on the U.S.-China trade front.
Spot gold was up 0.1% at $1,298.26 per ounce, having hit its highest level since April 11 at $1,303.26 on Tuesday.
U.S. gold futures settled $1.50 higher at $1,297.80.
"There have been flows out of equities into safe havens," said Quantitative Commodity Research analyst Peter Fertig, adding stocks turned back into the red, despite strong economic data from Germany.
The euro zone's biggest economy, Germany rebounded in the first quarter, growing 0.4% after zero growth in the previous three months.
A global equity bounce stemming from softer rhetoric by U.S. President Donald Trump on the trade dispute with China waned on Wednesday as grim Chinese data and fresh Italian debt woes cast a shadow over global markets.
The softer rhetoric from Washington and Beijing, has in part limited gold's gains.
"As long as there is no decision made that there will be no further imports duties on Chinese goods, you cannot say the worst is over," Fertig said, adding there is also concern in the wider financial markets that the trade spat could further weigh on the Chinese, and in turn, global economy.
Data from China showed weak retail sales and industrial output growth weighed on markets and added pressure on Beijing to roll out more stimulus.
Tensions in the Middle East have also been supportive for gold, said Afshin Nabavi, senior vice president at MKS SA.
Saudi Arabia said armed drones struck two of its oil pumping stations on Tuesday, two days after the sabotage of oil tankers near the United Arab Emirates, and the U.S. military said it was braced for "possibly imminent threats to U.S. forces in Iraq" from Iran-backed forces.
Gold is considered a safe store of value in times of political or economic uncertainties.
On the technical front, the $1,300 barrier will prove a crucial pivot for bullion, analysts said.
"Gold market looks to be rangebound around $1,292 on the downside and $1,300 on the upside. If we break above $1,300, we can see prices rally up to $1,310," Nabavi added.
Among other precious metals, silver rose 0.2% to $14.82 an ounce, while platinum fell 0.5% to $851.60.