Gold held steady on Tuesday after the last session's record high, as investors stayed on the sidelines, watching the stalemate in Washington's budget talks to avert a ratings downgrade or default.
President Barack Obama's Democrats and their Republican rivals were further apart than ever on Tuesday in an impasse over the government's debt limit as investors braced for a looming default and downgrade.
President Barack Obama's Democrats and their Republican rivals were further apart than ever on Tuesday in an impasse over America's debt limit as Wall Street braced for a looming U.S. default and credit downgrade.
The forward was a major contributor for the Red Wings.
American Ryan Lochte received a massive confidence boost ahead of next year's London Games when he swum down compatriot and Olympic champion Michael Phelps to claim the men's 200 meters freestyle world championships title on Tuesday.
Los Angeles Lakers All-Star guard Kobe Bryant's representatives will meet with officials of Turkish club Besiktas next week to discuss the possibility of him playing in Turkey during the National Basketball Association (NBA) lockout.
President Barack Obama's Democrats and their Republican rivals on Tuesday headed for a showdown over competing debt plans one week before a deadline for averting a potentially disastrous U.S. default.
The dollar fell on Tuesday as U.S. lawmakers remained deadlocked over raising the nation's debt ceiling to avoid a devastating default, while U.S. and European shares also declined.
President Barack Obama's Democrats and their Republican rivals on Tuesday headed for a showdown over competing debt plans one week before a deadline for averting a potentially disastrous U.S. default.
South African gold miners will this week join thousands of workers seeking pay rises in widening nationwide strikes, threatening to hurt exports from Africa's largest economy at a time when bullion is at record highs.
Billionaire investor George Soros, whose stock-picking career has spanned nearly four decades, said he will manage money only for himself and his family as new regulations threaten to crimp the hedge fund industry he made famous.
Ryan Lochte's victory in the mens' 200 meters freestyle at the world swimming championships Tuesday not only allowed him to emerge from compatriot Michael Phelps's shadow but could set up a mouthwatering 'Race of the Century - Part Two' at next year's London Olympics.
Gold held steady below its record high on Tuesday as investors waited to see if President Barack Obama's appeal for lawmakers to break a deadlock in U.S. debt talks would succeed, while the euro zone debt crisis lent support.
China?s State Oceanic Administration said that the Jiaolong submarine, 8.2 meters long, weighing 22 tons and carrying a three-man crew, reached a depth of 5,057 meters (about 16,500 feet) Tuesday morning, spending over six hours underwater.
Legendry Michael Phelps faced a sensational defeat from none other than his team-mate Ryan Lochte in the men's 200 mt free-style at the world swimming competition in Shanghai.
Chinese smelters expect supplies of copper concentrate to rise as early as late 2012, paving the way for higher charges, as neighbouring Mongolia's Oyu Tolgoi copper and gold mine starts to come onstream, industry sources said on Tuesday.
Asian shares edged higher on Tuesday, bouncing back from a slide the previous day, after U.S. stocks posted only modest losses in reaction to the worsening deadlock in Washington over raising the debt limit and avoiding a technical bond default.
The U.S. dollar remained on the defensive in early Asia-Pacific having hit record lows on the safe-haven Swiss franc as the market awaited the latest attempt by President Barack Obama to break the deadlock on debt talks.
The dollar slumped to a record low against the Swiss franc and a four-month trough versus the yen on Monday, with more losses seen if U.S. lawmakers fail to compromise on a deficit reduction plan.
Another impasse at the U.S. debt ceiling talks caused gold to touch new highs on Monday. Spot gold rose to a record $1,622.49 per ounce, an increase of 1.1 percent, as investors became nervous about the possibility of a U.S. rating downgrade. There are analysts who believe that irrespective of whether there will be a debt deal in the U.S. or not, gold will continue to rise higher, basically because of the residual weakness of the dollar.
Policymakers worldwide oscillated between hope and confidence on Monday that U.S. lawmakers will break a debt impasse that threatens to trigger a default and up-end global financial markets.
The dollar slipped in early Asia-Pacific trade on Monday as investors looked for signs of progress to break the deadlock that will avert a U.S. debt default.
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