Indian investors of gold, the world's biggest consumers of bullion, remained on the sidelines even though traders offered discounts of up to $5 per ounce.
Gold prices surged Monday as German and French leaders worked on emergency plan to save the Eurozone within weeks rather than months and strong U.S. retail buying bolstered equities.
Wal-Mart is expected to add more items to their sales list
Prime Minister Manmohan Singh's move, last week, to open India's protected retail sector to global supermarket giants surprised critics who had written him off as a policy ditherer. He was, however, probably motivated by expedience rather than any reformist zeal.
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Gold prices slipped Friday to a two-week low as a surging dollar offset support from rising equities, higher crude oil prices and strong investor demand for gold.
India gold prices are likely to fall more than 3.5 percent from its peak after a 16 percent rally last quarter as investors resort to year-end profit-taking while tepid wedding demand weighed, a Reuters poll of banks and brokerages found.
Australia's Newcrest Mining was assessing damage from a rock slip that was blocking access to part of its Cadia gold and copper mine, one of the largest of its kind in Australia.
The top pre-market NASDAQ Stock Market gainers are: Pozen, Transcept Pharmaceuticals, Yahoo, Infosys, and Research In Motion. The top pre-market NASDAQ Stock Market losers are: ASM International, ARM Holdings, Randgold Resources, ASML Holding, and Rediff.com India.
Foes of the biggest mining investment in Peruvian history accused President Ollanta Humala on Thursday of abandoning his leftist roots to support Newmont's proposed $4.8 billion Conga gold mine.
Chilean miner Antofagasta posted a 28 percent rise in nine-month profit, lifted by improved production and an increase in gold sales that helped offset bad weather and an accountancy hit after copper prices fell steeply in the third quarter.
Zimbabwe's economy is likely to continue its strong recovery next year from a decade of decline to expand by 9.4 percent, Finance Minister Tendai Biti said on Thursday, but a hike in mining royalties could impede growth.
Ecuador's President Rafael Correa says his government is within days of signing contracts with mining companies set to develop large copper and gold projects in the mineral-rich Andean nation.
Canada's Dundee Precious Metals Inc said it received environmental approval from the Bulgarian government for its Krumovgrad gold project, sending its shares up as much as 8 percent.
India gold futures fell half a percent on Friday afternoon, retracing to a level seen earlier in the week following a similar trend overseas, though a weaker rupee cushioned the fall.
Gold prices fell Friday in what appeared to be their second straight weekly retreat in the face of a Eurozone crisis, which after two years has yet to be contained, let alone solved, and now threatens Europe's financial liquidity.
India gold prices are likely to fall more than 3.5 percent from its peak after a 16 percent rally last quarter as investors resort to year-end profit-taking while tepid wedding demand weighed.
Toronto's main stock index hit a seven-week low on Thursday morning, as materials and financial issues retreated in response to euro zone debt fears, sparked by rising German government bond yields.
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Alibaba.com, China's largest e-commerce firm, posted an 11.9 percent rise in quarterly net profit, its slowest growth in nearly two years, with the company raising concerns due to a weak trade outlook stemming from debt woes in Europe and the United States.
Gold futures in India eased due to a rebound in the rupee, though demand in local spot market remained weak as buyers were seeking further correction.
