The fallout from two fatal crashes of Boeing 737 Max planes has ensnared the manufacturer's most-loyal customer: Southwest Airlines. The carrier has canceled thousands of...Airlinesread more
The Fed is expected to cut rates Wednesday, but it is unlikely to tell markets what they want to hear on future rate cuts.Market Insiderread more
Stocks rose slightly on Tuesday, but gains were capped as the Federal Reserve kicked off a two-day monetary policy meeting.US Marketsread more
Brent crude oil jumped the most in history in the previous session after attacks on Saudi's oil industry disrupted the kingdom's production.Marketsread more
Investors might be wary that gasoline prices will continue to rise, and are looking to take back profits by selling off shares.Retailread more
The Trump administration move on California's auto emissions standards would likely set up a fight between the White House and the state.Politicsread more
"I feel really confident that defense-minded CEOs, when they are on defense, they're going to come to" flexible offices and away from traditional leases, Knotel CEO Amol Sarva...Commercial Real Estateread more
Fanatics has hired Michener Chandlee, Nike's corporate audit and chief risk officer, to become its chief financial officer, succeeding Lauren Cooks Levitan, CNBC has learned.Retailread more
Facebook has partnered with Ray-Ban maker Luxottica to develop augmented-reality glasses, people familiar with the matter told CNBC. The glasses, code-named 'Orion,' are being...Technologyread more
As Netflix's rivals prep for their own streaming service launches, and snatch up content belonging to their own networks, Netflix could soon face a dry well when it comes to...Entertainmentread more
Adobe's quarterly guidance was light, but the stock still went up after its fiscal third quarter results beat expectations.Technologyread more
Gold steadied on Friday, after rising more than 1% in the previous session en route to a weekly gain, propped up by a weaker dollar and expectations for a U.S. interest rate cut, offsetting pressure from a rebound in equities.
Spot gold was little changed at $1,283.58 per ounce. Prices rose as much as 1.1% to a one-week peak of 1,287.23 on Thursday. The metal has risen about 0.5% so far this week.
U.S. gold futures settled $1.80 lower at $1,283.60.
Underpinning gold, the dollar moved away from two-year highs after weak U.S. durable goods data and manufacturing activity data ignited worries that the trade conflict with China may hurt the world's largest economy.
"We had durable goods number that missed expectations. Typically, gold would rally on the news like that, but right now equities are trading higher, which is pressuring gold prices," said Bob Haberkorn, senior market strategist at RJO Futures.
Financial markets around the world rose after comments from U.S. President Donald Trump drove hopes of progress in U.S.-China trade talks.
"It is hard trade grinds, especially when capital can be deployed to trade other things," said Tai Wong, head of base and precious metals derivatives trading at BMO.
Escalating trade tensions and weak data have fueled rate cut expectations from the U.S. Federal Reserve, analysts said. Lower interest rates tend to support gold since it reduces the opportunity cost of holding the non-yielding asset.
Four Fed officials on Thursday said the protracted trade spat is creating uncertainties for businesses and could threaten economic growth.
"The Fed is on hold and the market thinks the likely next move will be a cut deep into a long expansion. You would need the Fed to clearly look to cut to stir it up, and for a major rally (in gold), you'd need more quantitative easing," BMO's Wong said.
On the technical front, spot gold may break a resistance at $1,286 and edge up to the next resistance at $1,290, according to Reuters technical analyst Wang Tao.
Among other precious metals, silver fell 0.5% to $14.51 per ounce, while palladium rose 1.1% to $1,324.50. Palladium was on track for a 1% weekly gain, its first in four weeks.
Platinum gained 0.8% to $800.05 an ounce, having touched its lowest since Feb. 15 at $791 in the previous session, putting it on track for its fifth straight weekly loss.