Representatives from the Chinese side say they think it likely that Chinese President Xi Jinping will attend the G-20 meeting later this month. But in order to reach a trade...China Economyread more
Software engineers straight out of college often make six-figure salaries, not counting equity compensation.Technologyread more
Wall Street, though, is clamoring for a rate cut, with an 85% chance of a move in July and a 61% probability of three reductions by year's end.The Fedread more
A company spokesperson said the outage was the result of a "an internal technology issue" and was not security related.Retailread more
The flattening of the yield curve is exuding a bad omen for the stock market if history is any guide.Marketsread more
Using MIT's living wage calculator, CNBC Make It mapped out the minimum amount a single parent must earn to meet their basic needs without relying on outside help in every...Earnread more
Hong Kong Chief Executive Carrie Lam announced at a press conference on Saturday that a contentious bill to allow extraditions to mainland China has been put on hold.China Politicsread more
Stratolaunch, the world's largest airplane, which flew once, is up for sale, sources familiar told CNBC.Investing in Spaceread more
Transparency is key… or is it? With the first-ever non-transparent, actively managed exchange-traded fund receiving approval from the SEC, "ETF Edge" goes straight to the...ETF Edgeread more
Mired in a crisis over its best-selling 737 Max plane, Boeing could hand the spotlight over to its rival Airbus at the Paris Air Show.Airlinesread more
A new update to the Apple Watch called watchOS 6 will notify you if the environment you're in is too loud and could damage your hearing.Technologyread more
Gold prices gained momentum on Wednesday as the dollar dipped on speculation the U.S. central bank would cut interest rates this year amid concerns about waning global economic growth.
Spot gold was trading 0.5% higher at $1,332.80 per ounce, a rebound from the previous session when it fell to a 10-day low of $1,319.35.
U.S. gold futures settled $5.60 higher at $1,336.80.
"Today, global equities are weaker, there is some safe-haven buying, and buying ahead of the U.S. Fed meeting next week," said Bob Haberkorn, senior market strategist at RJO Futures.
"If the Fed cuts rates in June, youre going to see some substantial gains here in the precious metals market ... People are trying to get ahead of that and add some gold to their portfolio."
Global equities snapped a seven-day winning streak after U.S. President Donald Trump said he had no interest in moving ahead with a trade deal with China unless Beijing agreed to four or five "major points."
Adding to concerns, U.S. consumer prices barely rose in May, likely increasing pressure on the Fed to cut interest rates this year.
Fed policymakers will meet on June 18-19. Markets have priced in at least two U.S. rate cuts by the end of 2019. Futures imply around an 80% chance of a rate cut as early as July.
Lower interest rates make safe-haven assets such as gold, which does not yield interest, more attractive while weighing on the dollar. The U.S. currency was trading largely unchanged against a basket of currencies on Wednesday.
Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell marginally to 756.18 tonnes on Tuesday from 756.42 tonnes on Monday.
The gold bulls have the overall near-term technical advantage and regained momentum today, " Jim Wyckoff, senior analyst at Kitco, said in a note. He added that the next upside price target would be a close in August futures above June's high of $1,352.70.
Among other metals, silver was up 0.6% to $14.79 per ounce, while platinum inched 0.2% higher to $814.50.
Palladium was little changed at $1,394.30 per ounce, having hit a six-week high of $1,404 earlier in the session. The autocatalyst metal was trading higher for a fifth consecutive session.