Asian shares tentatively rose in early trade on Tuesday, while the dollar steadied after investors locked in some gains overnight on its recent rally.
Tags: Gold
Asia shares take comfort from U.S. data, yen nurses losses
Asian shares took solace from data showing broad U.S. economic strength even as signs of spreading weakness in China and Europe checked risk appetite, while the yen nursed its losses after sliding to multi-year lows against the dollar and euro overnight.
Russian central bank buys up domestic gold output as sanctions bite
Russia's central bank has been forced to step up its gold buying this year to absorb domestic production that Western sanctions are making it hard for miners to sell abroad, and to boost liquidity in its foreign reserves, sources said.
China gold and jewels exports spike points to hot money revival
A sudden swell in China's exports of gold and jewelry may signal a resurgence of speculative currency inflows through inflated trade receipts, raising the prospect the central bank could again act to weaken the yuan and punish speculators.
Bank stress test relief lifts European assets
European stocks, low-rated government bonds and the single currency all rose on Monday as financial markets gave a tentative thumbs-up to euro zone bank health checks.
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Asian stocks fell on Thursday, dragged lower after the first case of Ebola diagnosed in the United States spooked Wall Street overnight, while a bout of risk aversion pushed down yields and put the dollar's recent rally on pause.
Stocks worldwide began the fourth quarter on a negative note on Wednesday, with investors wary of lackluster economic data and keeping a cautious eye on civil unrest in Hong Kong.
World markets were in hesitant mood on Tuesday as investors wondered what China's response would be to civil unrest in Hong Kong, while the U.S. dollar eased off the throttle after its biggest quarterly gain in six years.
The dollar held near a four-year high against a basket of currencies on Friday, fueled by the biggest yield advantage over the euro in nearly 15 years as the Federal Reserve contemplates hiking interest rates.
The price of gold, down more than a third in three years, is approaching the tipping point where the mining industry would see a spike in the number of producers reducing output or even shutting down operations.
At least 25 people died when a gold mine collapsed near the Central African Republic town of Bambari, a spokesman for the mainly Muslim Seleka rebels which run the mine said on Friday.
Gold held near a two-month low on Friday and was headed for its worst week in five, hurt by strong U.S. economic data and fears that the Federal Reserve could hike interest rates sooner than expected.
Hedge funds have increased their bullish gold bets amid predictions given by analysts that the price of the bullion will continue to go down this year, Bloomberg reported.
Despite recording huge losses in 2013, gold and silver investments are seen increasing, and analysts attributed these to the improving major economies, including the US.
