Huawei CEO Ren Zhengfei laid out plans to bring more efficiencies to the organization. This included simplifying the reporting structure, cutting down on surplus staff, axing...Technologyread more
The bond market has entered a financial twilight zone, and at this point, there doesn't seem to be a smooth way out.Market Insiderread more
China has used both monetary and fiscal measures to lift economic activity as its trade war with the U.S. looks set to intensify in the coming months.China Economyread more
President Donald Trump said on Twitter he was postponing a scheduled meeting with Denmark's prime minister because of her lack of interest in discussing a possible sale of...World Politicsread more
"I think (rate cuts) will help, but whether they're going to be sufficient to counter the negative trade pressures and global growth slowdown and impact is debatable," one...Central Banksread more
Chinese overseas investment growth will likely slow or even decline in the next few years as risks around the world increase, according to new research by Moody's Investors...China Economyread more
The two countries want to smash the civil aerospace duopoly enjoyed by Airbus and Boeing.Aerospace & Defenseread more
Alibaba held a board meeting before its latest quarterly earnings release last week, during which the board decided to postpone the Hong Kong listing, Reuters reported.Technologyread more
Federal Reserve Chairman Jerome Powell is set to deliver his annual speech on Friday at the Jackson Hole, Wyoming symposium, where he's expected to provide more clarity on the...Asia Marketsread more
U.S. and Asian investors poured $3.7 billion into U.K. tech start-ups in the first seven months of 2019, research shows.Technologyread more
After Elon Musk touts Tesla solar on Twitter, Walmart sues the electric vehicle and clean energy company over store rooftop panels that ignited.Technologyread more
Gold prices rose alongside other safe-haven assets on Wednesday as the trade rift between the United States and China showed no sign of cooling, with investors fearing a global economic slowdown.
"It is not just the trade war but the status of U.S., Chinese and the European economies and Brexit hanging around there. In this kind of environment, investors and corporations are not quite sure how to play this market," said Jeffrey Christian, managing partner of CPM Group.
"Investors are confused whether to go long stocks or short stocks; long bonds or short bonds. So, they are siding with the precious metals. We have also seen a decline in the U.S. stock markets for the past couple of days."
Risk aversion has increased globally in recent days as fears of world recession resurfaced amid disappointing macro data in major economies.
Equity markets sank worldwide and U.S. Treasury yields dipped to 20-month lows as investor sentiment soured over growing global growth worries.
Fuelling tensions between Beijing and Washington, Chinese newspapers warned on Wednesday that Beijing was ready to use rare earth metals to strike back at the United States in their prolonged dispute.
This comes two days after U.S. President Donald Trump said Washington was not yet prepared to strike a deal.
"Gold rises on trade angst but remains the least preferred safe-haven as investors flee to bonds. The yellow metal has delivered limited gains on growing recessionary concerns, but that could change on the break of $1,300 an ounce," OANDA senior market analyst Edward Moya said in a note.
"The dollar's run will also hamper gold, but we could see that coming to an end, or at least a break, when the Federal Reserve admits the recent dip with inflation was not transitory. Rate cuts are priced in by the financial markets, the Fed just needs to capitulate."
Lower U.S. interest rates put pressure on the dollar and bond yields, increasing the appeal of non-yielding bullion.
The dollar index, which has been competing with bullion as the investment of choice to hedge against the trade tensions, held near a one-week high.
Among other precious metals, silver gained 0.6% to $14.43 per ounce. The metal had fallen to $14.25 in the last session, its lowest since early December.