Brazil's proposal to support the crisis-hit euro zone garnered only lukewarm support from fellow BRICS countries on Wednesday, as doubts mounted whether the five emerging market powers have the political will or financial clout to throw a lifeline to Europe.
Greece's exit from the euro zone would inflict untold damage on Europe's economy, further burnish the attractiveness of a rising Asia and hasten the emergence of China's yuan as a global currency.
Gold and gold receivables held by euro zone central banks rose by 1 million euros to 363.249 billion euros in the week ending Sept. 9, the European Central Bank said on Tuesday.
German Chancellor Angela Merkel said on Tuesday that Europe was doing everything in its power to prevent Greece from defaulting on its debt and cautioned that an exit from the euro zone would unleash domino effects and should be avoided at all costs.
Growing fears of a Greek default sent a hurricane through heavily exposed French banks on Monday and hit the euro as investor confidence in the European currency area's ability to surmount a sovereign debt crisis ebbed.
Gold in India extended losses on Monday afternoon, following similar trend overseas, although a weaker rupee kept the downside limited, dealers said.
Stock futures pointed to sharp falls for equities on Monday after tumbling in the previous session following the resignation of a top official at the European Central Bank, with futures for the S&P 500, the Dow Jones and the Nasdaq 100 down 1.6 to 1.9 percent.
The euro hit a six-month low against the dollar and a 10-year trough versus the yen, falling below key technical levels and option barriers on worries that the euro zone's support for Greece is wobbling and the country may be forced to default on its debt.
Greek Prime Minister George Papandreou said on Saturday he would do whatever it takes to rescue his country from bankruptcy and stay in the euro zone, as doubts in Europe grew over its membership in the bloc.
Debt-laden Greece's government vowed on Saturday to stay the course of austerity, sending a message to its increasingly frustrated lenders it will do everything it takes to avoid a bankruptcy that would rock the euro.
The euro area needs a full-time financial leader to better respond to its sovereign debt crisis, Eurogroup leader Jean-Claude Juncker said on Saturday, signaling that the pressures of the job are too much.
Following are highlight quotes from Group of Seven finance ministers and central bankers meeting in Marseille.
Gold prices fought back Friday against a powerful downdraft of worry about Europe's currency, prosperity and even unity to end the day in positive territory.
U.S. stocks tumbled on Friday after the top German official at the European Central Bank resigned in protest of the bank's bond-buying program, which has been a major tool in fighting the region's debt crisis.
European Central Bank Executive Board Member Juergen Stark will step down from his post because of a conflict over the central bank's controversial bond-buying program, two sources told Reuters on Friday.
European Central Bank board member Juergen Stark resigned Friday, three years before his term was scheduled to end.
Investors are likely skeptical about the efficacy of Obama’s jobs program and whether or not such a massive scheme would pass Congress.
European shares kept falling Friday, with investors disappointed on U.S. stimulus measures, and banks lower after Goldman Sachs downgraded target prices across the sector.
G7 finance chiefs meet on Friday under heavy pressure to take action over flagging growth in rich nations and calm the biggest confidence crisis to hit the global economy since the 2007-09 credit crunch.
Toronto's main stock market index edged higher in cautious action on Thursday morning following weak U.S. jobs data and ahead of a speech by U.S. President Barack Obama detailing his plan for job creation.
Following are comments by European Central Bank President Jean-Claude Trichet at a news conference held after the bank's Governing Council left its benchmark interest rate at 1.5 percent on Thursday.
A rebound in Asian stocks ran out of steam Thursday as worries over the widening euro zone crisis and the faltering U.S. economy undermined investor confidence.
