0911 GMT – Gold futures slip 0.3% to $2,746.10 a troy ounce. The precious metal peaked on Wednesday at $2,772.60 an ounce. Over the weekend, Israel retaliated to early October’s Iranian missile barrage with strikes on Iran. At first glance the retaliation seems relatively limited, and tensions could begin to subside in the short term, says Pepperstone’s Michael Brown. This could damp safe-haven demand for gold bullion.
Would a Strong Job Market Stop Fed Rate Cuts? This Official Says No.Mary C. Daly, the president of the Federal Reserve Bank of San Francisco, said that the central bank shouldn’t act “out of fear.”A woman in glasses and a blue suit with a pocket scarf gestures with her hands while speaking.
Justin Sullivan/Getty Images By Greg Ip Oct. 16, 2024 9:00 pm ET
In his first term as president, Donald Trump resurrected tariffs as a tool of economic diplomacy, regularly deploying them as a lever to extract new trade deals from other countries. The result was a world trading system with a bit more friction, but it remained largely intact.