President Donald Trump said Monday he's in no rush to respond to a coordinated attack that hit Saudi Arabia's oil industry over the weekend.Marketsread more
The price of oil could go sharply higher, depending on the duration of the disruption at Saudi oil facilities and whether there is a military response.Powering the Futureread more
Energy stocks, one of the worst-performing sectors this year, spiked Monday after an attack on Saudi Arabia's heart of oil production Saturday sent oil prices soaring.Marketsread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
"The United States military, with our interagency team, is working with our partners to address this unprecedented attack and defend the international rules-based order that...Politicsread more
Crude oil's spike following attacks on Saudi Arabia's energy supply has experts weighing whether or not the gains will last.ETF Edgeread more
Traders in the fed funds futures market on Monday were pricing in a 34% chance that the Fed will stay put on rates.The Fedread more
Gas prices could rise by about 20 cents per gallon "starting tomorrow," oil analyst Andy Lipow says Monday.Oil and Gasread more
Some operators are cashing in on the CBD craze by substituting cheap and illegal synthetic marijuana for natural CBD in vapes and edibles such as gummy bears, an AP...Health and Scienceread more
Attack on Saudi oil facilities shows that 'risk is real', Chevron CEO Michael Wirth said on CNBC's "Closing Bell" Monday.Marketsread more
J.P. Morgan's chief quant says oil prices would start to hurt stock prices when they hit the $80 to $85 range.Market Insiderread more
Gold prices fell to their lowest in nearly a month on Tuesday, as rising bond yields and the dollar dented the allure of safe haven assets.
U.S. Treasury yields climbed to multi-week peaks, tracking German bonds, as hopes of easing U.S.-China trade tensions and expectations of fiscal stimulus measures by global central banks buoyed risk sentiment.
"We're seeing safe haven liquidation in the market, there is no reason for safe haven at the moment. Although equities are pulling back today, they are showing some residual strength," said Phillip Streible, senior commodities strategist at RJO Futures.
Bullion prices have shed more than 4%, or over $60, in less than a week, mainly hurt by a broad uptick in equity markets.
Considering the large number of net long positions in gold, "all those people who jumped into this party late are starting to liquidate their positions right now. We're (also) seeing yields are up a bit," Streible added.
Speculators increased their bullish positions in COMEX gold and silver contracts in the week to Sept. 3, the U.S. Commodity Futures Trading Commission said on Friday.
Investors are now awaiting Thursday's European Central Bank meeting, which is widely expected to deliver a cut to interest rates. The U.S. Federal Reserve too is expected to cut rates next week as policymakers race to battle risks of a global downturn.
However, analysts said gold's overall positive trajectory was still intact.
"We now expect gold prices to trade stronger for longer, possibly breaching $2,000/oz and posting new cyclical highs at some point in the next year or two," Citi bank analysts wrote in a note.
Elsewhere, platinum dropped 1.2% to $935 per ounce, after nearing the $1,000 mark last week.
"Platinum has rallied the past two weeks as investors looked for 'cheaper' haven assets. While consolidation is likely in the near term, we remain bullish platinum over the next 12 months," Citi said.
Silver rose 0.5% to $18.04 per ounce, while palladium rose 0.9% to $1,557.12.