China may have signaled it's going more hard-line on trade, but it could be a good thing, former U.S. negotiator Clete Willems told CNBC.World Economyread more
As China's economic growth declines, some analysts say Beijing may have to spend more on infrastructure, adding to concerns about high debts.China Economyread more
After years of speculation, Neuralink, the brain-machine interface start-up co-founded by Elon Musk, started talking directly to the public on Tuesday.Technologyread more
"The charts, as interpreted by Carley Garner, suggest that the upside in the stock market has gotten more limited," Jim Cramer says.Mad Money with Jim Cramerread more
John Paul Stevens, who served on the Supreme Court for nearly 35 years and became its leading liberal, has died.Politicsread more
A key read on the industry, the Architecture Billings Index, fell into negative territory in June, according to the American Institute for Architects. Inquiries for new...Real Estateread more
The largest U.S. banks are scrutinizing members of the Federal Reserve for any insight into how the central bank will tinker interest rates.Banksread more
Mikaila Ulmer may be just 14 years old, but the Me & the Bees Lemonade founder knows a thing or two about business.Young Successread more
U.S. President Donald Trump said Tuesday that Washington and Beijing have a long way to go on trade, adding that America could place tariffs on an additional $325 billion...Asia Marketsread more
The U.S. and China restarted their trade talks, but signs are showing a comprehensive deal could be a long way off, if it happens at all.Marketsread more
The WTO ruling recognized that the United States had proved that China used state-owned enterprises to subsidize and distort its economy. But the U.S. must accept Chinese...World Economyread more
Gold prices hit their highest level in six years on Tuesday as investors plowed into the precious metal amid the prospects for lower interest rates, a softer global economy and increased geopolitical tensions.
Futures for August delivery hit a high of $1,442.90 per ounce overnight, its highest level since May 14, 2013, when it reached $1,444.90. Gold settled slightly higher $1,418.70.
Gold has been on a tear, rallying more than 8% this month and over 9% for the quarter. Those gains put the metal on pace for its best monthly and quarterly performances since 2016.
In that time, expectations for the Federal Reserve to cut interest rates have increased sharply. Traders are currently pricing in a 100% probability of a rate cut in July, according to the CME Group's FedWatch tool.
The Fed said last week it will "act as appropriate" to maintain the current economic expansion. The announcement sent rates along with the U.S. dollar lower. Gold is seen as store of value in times of a weakening dollar and economic activity.
"The decision by the Fed to leave rates unchanged was the consensus expectation among economic forecasters, but an outside chance of an early 'insurance' cut was reflected in the interest rate market ahead of the meeting," James Steel, chief precious metals analyst at HSBC, wrote in a note. "While this should support gold, we wonder how much further gold can rally as much of what the Fed said is already in the price we believe. Also the USD looks firm longer term."
The central bank's remarks came after the release of softer economic data. The Philadelphia Fed's manufacturing index tumbled to its lowest level since February, and jobs creation slowed down to just 75,000 last month.
Investors also added to their gold holdings amid rising tensions between the U.S. and Iran. President Donald Trump signed an executive order on Monday to impose "hard-hitting" sanctions after a U.S. drone was shot down last week. The U.S. says the drone was flying in international airspace, but Iran says the drone was flying over Iran, violating international law.
—CNBC's Michael Bloom contributed to this report.