Gold prices retreated more than 1 percent from record highs on Tuesday as a recovery in appetite for assets seen as higher risk, such as stocks, took the steam out of a rally that many saw as overdone above $1,900 an ounce.
Precious metals fell in early U.S. trading Tuesday, along with Treasuries, as investors appeared set to return to riskier assets like stocks.
Spot gold soared to an all-time high above $1,910 on Tuesday, scoring a record top for a fourth consecutive session, as persistent worries about global economic growth burnished bullion's safe-haven appeal.
Pawnbroker H&T Group Plc said it expected full-year results to be above the top end of current market expectations, driven mainly by surging gold prices that boosted its first-half pretax profit.
Latin American precious metals miner Hochschild Mining posted its highest-ever first-half profit, driven mainly by strong gold and silver prices, and said it was on track to meet its full-year production target.
Vietnam's central bank has authorized at least one domestic firm to import more gold to help cool soaring prices and state-run newspapers said it may open the market to unlimited imports to narrow the gap between local and world quotes.
Australia and New Zealand Banking Group's China unit has received regulatory approval to trade gold futures on the Shanghai Futures Exchange, it said on Tuesday, becoming the second foreign bank allowed access to the country's gold futures market.
Gold prices retreated more than 1 percent from record highs on Tuesday as a recovery in appetite for assets seen as higher risk, such as stocks, took the steam out of a rally that many saw as overdone above $1,900 an ounce.
The Shanghai Gold Exchange said on Tuesday that it will raise trading margins on three gold spot-deferred contracts to 12 percent from 11 percent from Aug. 26 to limit trading risks following recent wild price swings.
The fashion magazine Italian Vogue has apologized for an article referring to hoop earrings as slave earrings.
World stocks, the euro and commodity prices advanced on Tuesday after gauges of Chinese and German manufacturing activity were not as weak as some had feared.
Miranda Lambert's fourth solo album is due in October, and, if experience is any guide, it'll be a strong contender for the year's best country album. Suddenly, though, she's facing some strong competition for that title from … herself.
Spot gold soared to an all-time high above $1,910 on Tuesday, on course for its biggest monthly rise in 29 years, as persistent worries about global economic growth burnished bullion's safe-haven appeal.
World stocks eked out a gain on Monday, stabilizing after the previous four weeks of sharp losses, while Brent crude prices slipped on prospects Libya's civil war will soon end.
Kim's wedding has reportedly cost approximately $10 million. But that $10 million is just a drop in the bucket compared to the at least $17.9 million the E! reality TV star has reportedly made for just saying the word I do.
The price of gold ripped past $1,900 per ounce Monday, boosted by fears of enough wealth-destroying developments to erase any doubts that the world's oldest safe-haven investment is still the world's No. 1 safe-haven investment.
A German study found that dogs can reliably sniff out lung cancer on an affected patient's breath.
Gold set a new record Monday as investors fled stocks, weakening currencies and U.S. Treasuries for the safety of gold and gold-related assets.
The Rev. Martin Luther King memorial opened to the public Monday on the National Mall in Washington. The memorial will be formally dedicated on Sunday Aug. 28 on the 48th anniversary of King's I Have a Dream speech. President Barack Obama is scheduled to speak at the dedication.
The CEO of Harmony Gold, the world's fifth largest gold producer, said reported plans to shift mineral ownership in Papua New Guinea to local communities from the state would complicate negotiations but nationalisation was not being discussed.
South Africa's government bonds took a breather on Monday, with yields coming off record lows as some dealers cashed in their holdings after a strong rally last week.
The rapper was skateboarding after his St. Louis show when the accident occurred.