GOLD

A merger between Russian Presidential hopeful Mikhail Prokhorov's Polyus Gold and rival Polymetal is not imminent after recent talks between core shareholders broke down, sources close to both firms told Russia's Vedomosti.

Newcrest Mining Ltd., Australia's largest gold and copper mining company, said Friday profits in the second half of last year shot up 50 percent to a record level on sharply higher gold and copper prices.

Gold traders in India, the world's biggest consumer, drifted back to the market on Friday as prices eased from their highest level in more than two months, dealers said.

Gold prices fell back Friday, just hours after an apparent deal between debt-choked Greece and potential Eurozone lenders reinvigorated hopes the nation would not be forced to default on its loans.

Labour demands in the south, power problems in the east and new tax burdens in the west: wherever you look in Africa, miners face a perfect storm of soaring costs.

Iran is seeking to close grain purchases using gold and oil as payment, and has paid in yen for a large volume of wheat in its first deal since western sanctions against Tehran started choking imports of food staples, European wheat exporters said.

Gold prices rose 1 percent on Thursday as the euro rallied to a fresh two-month high against the dollar after Greece clinched a deal with European Union and IMF leaders needed to avoid a messy default.

Gold edged up along with crude oil and the euro on expectations the Greek prime minister's presence in Brussels Thursday signals a likelihood his nation will receive desperately needed bailout money.

Gold fell on Wednesday as technical resistance prompted investors took profits after the previous session's rally and on moreuncertainty about Europe's economy.

Burkina Faso plans to create a social development fund from the government's tax and royalty revenue from gold mining, the country's mines minister said on Wednesday.

Canadian securities regulators on Tuesday implicated mining executive Ian Telfer in an alleged insider trading scheme, saying he helped the main defendant in the case disguise her illegal trading activities.

Ivanplats, controlled by Ivanhoe Mines founder Robert Friedland, expects to produce platinum at negative cost at its giant Platreef complex in South Africa, potentially shaking up an industry squeezed by stoppages, rising wages and power charges.

Gold prices hovered in a narrow range Wednesday, with little support from crude oil prices or the euro and uncertainty about whether Greece will accept slightly easier bailout terms from Eurozone leaders, known collectively as the troika.

Given the fragile state of the global economy and brewing geopolitical risks, investors should be underweight equities while favoring selected commodities such as gold and oil, Mohamed El-Erian, CEO and co-chief investment officer of bond fund giant PIMCO, told CNBC on Tuesday.

Gold prices have been too volatile to play a reliable role as a hedge against inflation, a study of financial assets over the past 112 years showed on Tuesday.

Gold prices rose 1 percent on Tuesday as expectations that a Greek rescue deal will be completed drove the dollar down sharplyagainst the euro.

Canada's Nevsun Resources Ltd expects gold production at its Bisha mine in Eritrea to nearly halve in 2012 due to a cut in its reserve estimate.

South Africa's mines minister said on Tuesday that industry chief executives should be held liable for avoidable fatalities, also raising the possibility of court action.

Around 1,400 workers at Centerra Gold's flagship mine in Kyrgyzstan went on strike on Tuesday, a trade union leader said, halting production that contributes nearly 12 percent of GDP in the Central Asian republic.

Gold broke a two-day losing streak on Tuesday on light volume as the euro rose, but sellers matched buyers to keep the price in a narrow range.

The current gold rally is expected to continue due to a combination of monetary and fiscal influences, HSBC analyst James Steel reported to investors Sunday.

Randgold Resources is pointing to Congo as the next area to fuel growth for the gold sector, eyeing prospects similar to those of booming West Africa as the miner nears production for Kibali, potentially one of Africa's largest gold mines.

Gold producer Atna Resources Ltd said it plans to start commercial underground mine production in the fourth quarter at its Pinson mine in Nevada.

Harmony Gold, South Africa's third-largest bullion miner, cut its full-year production target by 13 percent on Monday, as safety stoppages threatened to crimp a surge in profit from record gold prices.

Gold demand in India, the world's biggest buyer of the yellow metal, edged up as prices extended losses for a third straight session, spurring traders to stock up given the wedding season.

Gold prices declined Monday on concerns Greece will - despite the Eurozone's two years of efforts - default on its massive sovereign debt, with acute consequences for global economic growth.

Spot gold edged higher on Monday after surprisingly strong U.S. jobs data sent prices down nearly 2 percent in the previous session, as investors shifted focus to a looming deadline for Greece to accept the terms of a new bailout deal.

Gold fell 1 percent on Friday, its biggest one-day loss in over a month, after encouraging U.S. payrolls data smashed hopes of extra stimulus from the Federal Reserve, which had been priced into bullion's recent rally.

Royal Gold Inc., reported record second quarter 2012 profits on Friday due to increased mineral production and high gold prices, despite falling well short of analyst expectations.