GOLD

Gold held near a two-week high on Monday on prospects of more safe-haven buying, with the U.S. dollar under pressure from weaker-than-expected economic data and speculation the Federal Reserve could ease policy further to boost growth.

Newmont Mining Corporation (NYSE: NEM) said Friday first-quarter profit fell 4.7 percent diminished gold production and higher costs offset higher selling prices.

Canadian miner Iamgold Corp said Friday it agreed to buy gold exploration company Trelawney Mining for about C$585 million in cash, in a move aimed at expanding its asset base within politically safe jurisdictions.

Gold prices slipped back towards $1,650 an ounce on Friday as investors cashed in gains after a three-session rally, with confidence in the metal still soft as consumers in major Asian bullion-buying centres held off making fresh purchases.

Gold struggled to make headway Friday as the euro came under pressure after Standard & Poor's downgraded Spain's credit rating, while investors waited for a monetary policy decision by the Bank of Japan later in the day for further trading cues.

Gold prices rose towards $1,650 an ounce on Thursday after the Federal Reserve opted to keep U.S. interest rates at rock bottom, taking further support from the foreign exchange market as the dollar languished against a basket of major currencies.

Newcrest Mining, the world's No.3 gold miner, on Tuesday cut its production forecast for this year, saying its major projects had struggled to reach output targets.

Argentina added to its gold reserves for the first time in nearly six years in September 2011 as the price hit record highs, mirroring the trend among emerging central banks to diversify further from paper currencies such as the U.S. dollar.

Russian gold miner Highland Gold posted a 15 percent drop in net profit to $104 million for 2011, hit by falling production and rising costs.

Gold prices steadied near $1,640 an ounce in Europe on Tuesday as a softer tone to the dollar arrested the previous session's slide, but traders largely stuck to the sidelines ahead of a key monetary policy meeting of the U.S. Federal Reserve.

Gold prices slid below $1,630 an ounce on Monday as concerns that the euro zone debt crisis could ensnare higher-rated countries hurt the single currency, though moves were muted ahead of this week's Federal Reserve meeting.

Gold stayed nearly flat in thin trade on Friday, on track to log declines for two of the past three weeks as investors took to the sidelines ahead of a key U.S. option expiration and a Federal Reserve policy meeting next week.

Gold rose above $1,645 an ounce on Friday as a better-than-expected German business sentiment survey lifted the euro versus the dollar, but trading was light as investors awaited further news on the euro zone crisis and U.S. monetary policy.

Gold rose above $1,645 an ounce on Friday as a better-than-expected German business sentiment survey lifted the euro versus the dollar, but trading was light as investors awaited further news on the euro zone crisis and U.S. monetary policy.

Gold eased on Thursday as European debt jitters and worries over the U.S. job market extended the metal's losses for a fifth consecutive day.

Silver enjoyed a record 2011, as investors turned to physical bars and coins of the precious metal to piggyback a strong year for gold, according to The Silver Institute's World Silver Survey 2012 released on Thursday.

While chances of a third round of U.S. money-printing quantitative easing measures, or QE3, have dimmed, the World Gold Council, or WGC, remains positive on the yellow metal's outlook due to its international appeal and value in hedging against inflation and deflation.

Stocks were lower on Wednesday after uninspiring earnings from IBM and Intel, while Chesapeake Energy slumped after a Reuters report highlighted large and unusual personal loans taken by its chief executive.

Fresnillo, the world's largest primary silver producer, posted first-quarter output of the metal in line with its expectations and said production of gold was ahead of target, helped by the start-up of a new mine in Mexico.

Syria is trying to sell gold reserves to raise revenue as Western and Arab sanctions targeting its central bank and oil exports begin to bite, diplomats and traders said.

Gold eased on Wednesday, having fallen for the past three trading days, as the euro came under pressure from continued worries about the euro zone.

Gold prices rose slightly Tuesday on higher crude oil prices and a declining dollar.

The Reserve Bank of India (RBI) has asked banks to reduce their exposure to non-banking financial companies (NBFCs), which have given loans mostly against gold, sending shares of such companies sharply lower.

Canada's Endeavour Silver Corp (EDR.TO) is buying two of AuRico Gold's (AUQ.TO) silver and gold mining interests in Mexico for up to $250 million in cash and stock to expand its footprint in the country.

Gold prices fell in quiet trade on Monday, following crude oil's losses, as worries about Spain's ability to repay its debt and a resurgent euro zone debt crisis extended bullion's loss to a second day.

Harmony Gold, South Africa's third-largest gold producer, on Friday became the latest miner to report a sharp drop in output in the first 3 months of 2012 because of an increase in government-ordered safety stoppages.

Gold prices slipped below $1,670 an ounce on Friday, pausing in their biggest one-week rally since late February as the dollar firmed against key currencies, with the euro falling out of favour due to worries over Spain's financial health.

Stocks rose on Thursday as lower yields on some euro-zone debt eased some concerns and rumors about China's strong GDP increased investors' appetite for risk.

Gold eased for a second consecutive day on Thursday, but was still set for its largest weekly gain in six weeks, thanks to the toll the re-emergence of the euro zone debt crisis has taken on investor risk appetite.