It's about time to write off high-growth tech stocks, Goldman warned, saying software carries the highest multiples since the tech bubble.Marketsread more
Iran will surpass the internationally agreed levels of its low-enriched uranium levels in 10 days, the country's atomic energy body said Monday.Politicsread more
Boeing said the airline industry will need 44,040 new commercial airplanes by 2038. The market value of those planes would reach $6.8 trillion, up from $6.49 trillion...Airlinesread more
Sotheby's announced Monday that it's signed an agreement to be acquired by BidFair USA, a venture owned by art collector Patrick Drahi.Marketsread more
Apple is reportedly building three new iPhones for 2020, including two with 5G. It may also slightly change the screen sizes of the new iPhones.Technologyread more
Overall, extortion by email is growing significantly, according to the FBI's Internet Crime Compliant Center (IC3). Last year, these complaints rose 242% to 51,146 reported...Technologyread more
Target's nationwide cash register meltdown over the weekend created more than $16 million in buzz on the internet from news reports and other social media mentions, according...Retailread more
The nation's homebuilders reported solid confidence in the housing market in June, but levels dropped slightly due to concerns over trade issues, the high costs of...Real Estateread more
Google CEO Sundar Pichai says while the company will work to remove as much harmful content as possible, it can't remove all of it.Technologyread more
"That's my view. They'll cut preemptively in June. That is to say Wednesday," says the Grant's Interest Rate Observer newsletter editor.Economyread more
The top court scrapped a ruling from the Oregon Court of Appeals in favor of the same-sex couple. The owners of the bakery, which refused the make the cake due to religious...Politicsread more
* SPDR Gold holdings rise 0.5% on Wednesday
* Gold may see strong support at $1,330/oz - analyst (Adds comments, updates prices)
June 13 (Reuters) - Gold prices advanced on Thursday as demand for the safe-haven metal rose on expectations of an interest rate cut by the U.S. Federal Reserve following soft inflation data, and on escalating trade tensions between the world's top two economies.
Spot gold was up 0.3% at $1,336.45 per ounce, as of 0309 GMT. U.S. gold futures were also 0.3% higher, at $1,340.10 an ounce.
"We can see strong support at $1,330 for gold, and the metal looks to trade upside with expectations of lower interest rates," said Peter Fung, head of dealing at Wing Fung Precious Metals.
"Also, we are still worried about the (U.S.-China) trade war and people are still looking at gold as a safe haven," he said.
Data from the Labor Department showed on Wednesday U.S. consumer prices barely rose in May, pointing to moderate inflation that together with a slowing economy increased pressure on the Federal Reserve to cut interest rates this year.
Fed policymakers are scheduled to meet on June 18-19 against the backdrop of rising trade tensions, slowing growth and a sharp step-down in hiring in May which have led financial markets to price in at least two rate cuts by the end of 2019.
Lower interest rates decrease the opportunity cost of holding non-yielding bullion and weigh on the dollar, making gold cheaper for investors holding other currencies.
The dollar index versus a basket of six major currencies was down 0.1% on Thursday, having risen more than 0.3% overnight.
On the trade front, U.S. President Donald Trump said he had a "feeling" a U.S.-China trade deal could be reached, but reiterated his threat of increasing tariffs on Chinese goods if there is no agreement.
However, Trump declined to set a deadline for levying tariffs on another $325 billion of Chinese goods and called the relationship with Beijing good but "testy" after China walked back commitments for a trade deal.
Meanwhile, holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, rose 0.5% to 759.70 tonnes on Wednesday from 756.18 tonnes on Tuesday.
Among other precious metals, silver rose 0.4% to $14.79 per ounce and platinum gained 0.3% to $811.
Palladium fell 0.3% to $1,401.55 an ounce after hitting a more than one-month high of $1,414.40 in the previous session. (Reporting by Brijesh Patel in Bengaluru; Editing by Subhranshu Sahu)