Precious metal

Gold retreated on Tuesday as investors took profits after the precious metal rose to its highest level in 28 years the previous day, lifted by record-high oil and a weak dollar, while silver hit an 8-month high.

Gold rebounded on Thursday as bargain hunters returned to the market amid worries about possible military action by Turkey in northern Iraq, high oil prices as well as a weak dollar.

Gold extended gains on Wednesday as a soft dollar encouraged buying, while Tokyo futures tracked bullion to hit a fresh 22-½ year high.

Spot gold prices surged to a 28-year high in European trade on Thursday, as the dollar sank to record lows against the euro and oil traded near all-time highs -- raising the precious metal's appeal for investors.

Gold slipped in late business on Tuesday as investors took profits from 16-month highs, but sentiment stayed bullish ahead of an expected rate cut by the U.S. Federal Reserve.

Japan's Daihatsu Motor Co Ltd said on Friday it has developed a technology to make fuel cells without platinum, the precious metal used in the electrolyte process in existing hydrogen-based fuel cells.

Asian stocks took a breather on Monday after four straight weeks of gains, with expectations of a U.S. interest rate cut this week helping to offset renewed worries about a global credit squeeze.

Gold cut losses in late European trade on Thursday, but remained vulnerable as the dollar gained against the euro and stocks fell as concern over global credit conditions hurt sentiment again, analysts said.

Gold changed course to trade higher on Wednesday, but investors remained cautious because of weaker equities and fears about the global economy.

Gold drifted lower on Tuesday as the dollar broadly gained ahead of a U.S. Federal Reserve policy meeting and accompanying statement.

Gold slipped in afternoon trade in New York on Monday after hitting one-week highs on a weaker dollar, as oil prices plummeted and concerns about credit markets resurfaced.

Gold fell slightly on Monday but held near 10-week highs as the precious metals market took a breather from last week's rally, but a weakened dollar and more bullish sentiment limited losses.

Gold held steady on Monday below a five-week high, with investors keeping an eye on the dollar, which hovered near record lows against the euro, for short term direction.

Security concerns and a sharp drop in the dollar helped gold hit its highest level in nearly two weeks on Monday, but investors were expected to trade cautiously ahead of the U.S. Independence Day holiday.

Gold extended losses on Thursday to slip to its lowest in nearly a week as a firmer dollar and rising bond yields triggered more selling, traders said.

Gold retreated from earlier highs on Friday as bargain hunting subsided amid nervousness caused by this week's sell-off triggered by the strength of the dollar and rising U.S. Treasury yields.

Prices of oil, base metals and precious metals were slashed on Thursday afternoon as cross-asset profit-taking kicked in, traders said.