FEDERAL RESERVE

Gold prices slipped Monday as the euro fell, global stocks declined and investors booked profits from recent gains.

India, the world's fourth-largest oil consumer, will not take steps to cut petroleum imports from Iran despite U.S. and European sanctions against Tehran, finance minister Pranab Mukherjee said on Sunday during a visit to Chicago.

The U.S. Department of Defense cannot account for about $2 billion in Iraq development funds made available to it by the government of Iraq, and it hasn't been able to furnish a complete list of U.S.-funded reconstruction projects, two new government audits have found.

Gold ticked lower Monday after earlier rising to its highest in more than seven weeks as investors awaited the outcome of Greece's debt deal talks, but sentiment was supported by a firmer euro and lower-than-expected U.S. growth data.

Delivery trucks wear out, computers break down, software becomes outdated -- and finally businesses have to start investing in new equipment. Companies that want to remain competitive have to start spending again as an economy slowly recovers.

It has only been a few days since the Federal Reserve adopted a formal goal for inflation, and already policymakers are missing their target.

U.S. stocks fell on Friday after data showed the U.S. economy grew less than expected in the fourth quarter, while weak earnings from Ford and continued caution over Europe's debt crisis also weighed on the market.

The U.S. economy grew at its fastest pace in 1-1/2 years in the fourth quarter, but a strong rebuilding of stocks by businesses and weak spending on capital goods hinted at slower growth in early 2012.

Treasury debt prices rose on Thursday, and five-year note yields dipped to the lowest level since at least the 1960s, a day after the Federal Reserve said it will likely hold interest rates near zero at least through late 2014.

World stocks held steady near a 5-1/2 month high on Friday as investors anticipated an imminent conclusion to Greek debt talks while lower Spanish bond yields and a fall in Italy's six-month borrowing costs also supported the euro.

Stock index futures pointed to a steady open on Wall Street on Friday, with futures for the S&P 500 up 0.02 percent, Dow Jones futures up 0.05 percent and Nasdaq 100 futures up 0.2 percent at 4 a.m. ET.

Gold prices leveled off Friday, consolidating the week's dramatic gains, amid prospects for more increases next week and next month.

The broad asset rally which the U.S. Federal Reserve inspired by pledging to keep rates low decelerated on Friday as investors awaited the outcome of Greek debt talks and U.S. gross domestic product data. Asian stocks paused.

World stocks fell from a 5-1/2 month high on Friday as gains spurred by the Federal Reserve's pledge of low interest rates gave way to concerns about Portugal, seen as the next domino in the Eurozone crisis, and uncertainty over Greek debt talks.

The rupee touched a two-and-a-half month high on Friday, aided by firm local shares, as demand for riskier assets was spurred by hopes Greece will soon reach an agreement on restructuring its debt.

Spot gold finished slightly lower on Thursday as investors locked in profits after bullion jumped past key resistance in early trade.

The U.S. economy is not robust by any means, but the recent manufacturing-driven recovery, if tepid, is finally beginning to erase memories of the disappointing slowdown in 2011. On the wings of the recent gains, growth in most sectors of the economy is likely to continue - and maybe even pick up momentum towards the end of the year.

U.S. stocks sagged on Thursday as traders cashed in on red-hot bank and technology shares, while the Federal Reserve's commitment to easy money to help the U.S. economy rebound weakened the dollar.

Valley National Bancorp's margins fell sequentially, prompting investor concerns about its profit growth in a low-rate environment, while its Northeastern peer First Niagara Financial managed to hold the line on its margins.

Below are highlights from Federal Reserve Chairman Ben Bernanke's news conference following the Fed's policy meeting on Wednesday.

New orders for U.S. manufactured goods rose in December and a gauge of future business investment rebounded, showing the U.S. economy ended the year with more momentum than previously thought.