GOLD

Stock index futures were slightly higher on Thursday, following a market selloff in the previous session as Italian bond yields fell and investors awaited a new spate of data.

Gold fell to a three-month low on Thursday as prices were weighed down by a firm dollar, while investors remained cautious ahead of an important Italian bond auction later in the day.

Gold prices plunged 1.7 percent Thursday on a strengthening dollar, which was rising ahead of a crucial auction of Italian bonds and fresh worries about Eurozone banks.

Gold wallowed near a three-month low Thursday, remaining under pressure due to a firm dollar, while investors fretted over an important Italian bond auction later in the day.

Gold fell 2 percent to a three-month low on Wednesday, hit by a dollar rally against the euro, a technical sell-off and losses in U.S. equity and commodity markets.

Gold fell more than 1 percent in choppy trade on Wednesday, on track for its biggest one-day decline in two weeks, as a stronger dollar and risk-averse selling across the board also sent equities lower.

Pressure built on an Indonesian firm on Wednesday to resolve a local dispute with workers at a Freeport McMoran Copper & Gold Inc. mine that has prompted the union to halt a return to work after a three-month strike.

New Guinea Gold Corp. said it had to temporarily halt operations at a project in Papua New Guinea after representatives of landowner associations occupied the mine site.

The consensus among investment bankers and many traders is that gold prices will continue to climb in 2012.

A fall in overseas gold market failed to lift physical demand in India, the world's top consumer, as the depreciating rupee kept prices steady in the local market.

Crocodile Gold, which owns and operates mines in the northern territory of Australia, said an affiliate of Luxor Capital Group has offered to buy a majority stake in the Canadian miner for about C$121 million ($118.47 million).

Zimbabwe is considering a ban on raw platinum exports in a bid to force miners to set up refineries in the country, but this move will not take place overnight, a government official said on Wednesday.

Gold fell on Wednesday, tracking industrial metals and equities lower, as concerns about global economic growth and Iran's threat to stop the flow of oil kept investors on the sidelines.

Gold prices declined Tuesday as investors sold ahead of the expiration of January options contracts in one of the lightest trading weeks of the year.

Santa Fe Gold Corp. said Tuesday it obtained financing for its purchase of Columbus Silver Corp., expanding its holdings near an operating mine and mill in southwestern New Mexico.

Dealers in gold and silver coins expect higher prices next year, according to a poll released Tuesday by the Professional Numismatists Guild.

A subsidiary of Shanghai Construction Group Co. Ltd. will acquire gold mining assets in Eritrea, according to a company announcement.

Gold exchanges in China outside of two in Shanghai are to be banned, authorities said in a statement released on Tuesday.

Gold prices in India eased on Tuesday tracking a similar trend overseas, but the drop wasn't enough to bolster demand in the world's top consumer.

Precious metals drifted lower Tuesday, with the biggest decline coming from palladium, which was down in early trading nearly 2 percent.

The yuan closed up against the dollar on Monday after hitting an all-time high in intraday trading, guided by a stronger mid-point by the People's Bank of China, and looks set for an over-4-percent appreciation for 2011, traders said.

Exploration and development company Detour Gold said its Detour Lake gold project in northern Ontario has received a go-ahead from the federal government, paving the way for the development of what will be one of Canada's largest gold mines.

The S&P 500 turned positive for the year on Friday as equities rallied again on a run of better-than-expected economic data, though volume continued to be seasonally weak.

Gold extended its record bull run in 2011 for an 11th year as confidence in the world's financial leaders and their stewardship of fiat currencies plummeted.

Prodigy Gold Inc. raised the estimated resources of its open pit Magino gold project in northern Ontario to more than 2.6 million ounces.

Canadian exploration and development company Detour Gold Corp said its Detour Lake gold project in northern Ontario has received a go-ahead from the federal government.

Denver-based Royal Gold Inc. agreed to pay $60 million for payable gold and silver produced from the Tulsequah Chief project, which is owned by Chieftain Metals Inc.

Sweden-based Nordic Mines AB will begin trading on the Stockholm Stock Exchange Mid Cap list on Jan. 2, just days after its Laiva gold mine in Finland reaches full production.

Gold demand in India, the world's top buyer, remained subdued on Friday after prices edged higher, tracking a rebound in the world market and as the local currency pared early gains, dealers said.