Gold edged up on Thursday, to just short of its highest since the start of July, as volatile equities and concerns about the global economy spurred buying from investors, but selling from jewelers capped gains.
Gold rose to its strongest in more than a month on Monday as pessimism about the global economic recovery sparked buying from investors, but selling from jewelers could cap gains.
Holdings in the world's largest bullion-backed ETF, SPDR Gold Trust, were unchanged, suggesting that some investors were happy to hold on to bullion after recent U.S. economic data pointed to weakness in the economy.
Finally, India will have its first ever jewellery week, the India International Jewellery Week (IIJW), from August 15 to 19 in Mumbai.
It is a fabulous platform for jewellery designers to come together and showcase their talent. This is the first time the jewellery industry will witness something like this.
Exporters canceled major contracts of drought-hit Black Sea wheat to Bangladesh on Monday, signaling the need for Asian millers to scramble for supplies from other key growers like Australia.
Gold held steady on Thursday after drop in prices from a 2-week high spurred light buying from jewelers in Asia, but firm stock markets were likely to weigh while holdings on the ETF fell slightly.
Investors await the release of more data from the United States, particularly the payrolls report, which will offer clues on the health of the economy. Friday's government report on jobs may show a drop of 65,000 in July as census jobs dried up.
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Thailand's TFEX (The Thailand Futures Exchange) on Monday started trade in new 10-baht weight gold futures contracts after starting trade in 50-baht weight contracts in 2009.
A total of 1,089 contracts were traded, including 697 deals of GF10Q10 contracts maturing in August. Total trade on the TFEX Monday was 12,933 contracts, with over half representing trade in SET50 index futures.
Lonely Planet, publisher of the popular travel guides, launched interactive e-books for the iPad on Monday for popular European destinations.
With a series of auto makers announcing good sales and profits this week, palladium prices soared to new heights on Friday. Palladium settled up $22.50, or 4.8 percent, at $491.20 an ounce. Palladium and platinum, which also is higher, are used in making catalytic converters for cars.
General Motors Co believes vehicle sales in Thailand could rise to more than 700,000 units this year as the economy proves resilient to recent political unrest and grows along with the rest of Southeast Asia.
Gold gained on Friday as jewelers across Asia replenished stocks and other physical buyers snapped up bullion ahead of U.S. second quarter GDP data that will offer clues on the direction of the economy.
With worries about the debt crisis in Europe diminishing, gold could attract safe-haven buying as growth in the U.S. economy probably slowed in the second quarter on reduced consumer spending.
Japan's Nissan Motor Co said on Tuesday it will spend $600 million to upgrade its plants in Mexico and start making three new low-cost cars there, positioning Mexico as its supply hub for the Americas markets.
Nissan Motor Co said orders in Japan for the revamped March subcompact reached 12,147 units as of Sunday, representing more than three times the monthly target after less than two weeks on the market.
In many parts of the world, summer vacation season starts winding down at the end of August. Beach trips come to a halt as people start getting back to the daily grind for the push toward Christmas.
Gold slipped on Friday despite gains in equities as investors took to the sidelines before the release of European bank stress test results, which seek to restore confidence in the euro zone banking sector.
Major listed lenders are expected to pass, while the tests may show the biggest problems lie with smaller, mainly unlisted players like Germany's Landesbanks and Spain's cajas.
Drugmakers Merck, Tibotec and Gilead are in advanced talks with UNITAID about a patent pool to make AIDS drugs more widely available to the poor, the health funding agency said on Wednesday.
Gold edged down on Wednesday as investors shifted some of their money into firming equities, while a drop in ETF holdings could prompt more selling as bullion struggles to hold above $1,190 an ounce.
Although purchases from jewelers offered some support, trading was thin ahead of euro zone bank stress test results this week, which some analysts say could soothe concerns about how European banks would cope with deterioration in the region's economy and financial markets.
Toyota Motor Corp will restart exporting its Fortuna sport utility vehicles produced in Indonesia to the Middle East and the Phillippines after seeing a recovery in demand
China's economy cooled in the second quarter, a slowdown that is likely to extend over the rest of the year as Beijing steers monetary and fiscal policy back to normal after a record credit surge to counter the global crisis.
China's economy cooled in the second quarter, a slowdown that is likely to extend over the rest of the year as Beijing steers monetary and fiscal policy back to normal after a record credit surge to counter the global crisis.
Yum Brands Inc , parent of the KFC, Taco Bell and Pizza Hut chains, issued a disappointing full-year earnings outlook and said it expects labor costs to rise in its key China market, sending its shares down 3.2 percent.
Chinese stocks fell 2 percent on Tuesday on reports that Beijing will not relax tougher property measures any time soon, weighing on the Australian dollar and curbing early gains in Asian shares.
