GOLD

Gold prices traded flat Wednesday and against news suggesting a rally was in the offing, after reaching six-month highs earlier in the day.

Gold rose to a six-month high on Friday, extending a 2-percent rally from the previous session when the Federal Reserve announced a new round of stimulus measure, which could add to the risk of inflation down the line and enhances gold's appeal.

Fed decision to buy tens of billions more in bonds lifts the price of gold to a six-month high.

Two large investment banks issue fresh forecasts for the price of gold

Gold edged higher on Tuesday to the highest level in more than five months as lacklustre manufacturing data from around the globe fanned speculation of imminent easing measures from central banks.

Gold hovered near a five-month peak on Monday, supported by hopes for more stimulus measures after U.S. Federal Reserve Chairman Ben Bernanke gave a grave assessment of the economy last week.

Gold on Wednesday hovered near a 3-1/2 month high hit in the previous session, as investors remained hopeful the European Central Bank would soon take action to contain the region's debt crisis.

As London gears up to host the Closing Ceremony of Olympics 2012, here's a random selection of golden moments that had adrenalin rushing and fans awestruck.

The exit of one or more countries from the euro zone could drive gold prices significantly higher by the end of this year, according to a Friday Capital Economics report.

Gold futures steadied over $1,600 per ounce Thursday, breaking above a level the precious metal had not seen since early July.

Gold experts have further cut back price forecasts for the metal this year after a sluggish first half, a quarterly Reuters poll showed on Monday, while gains in the dollar and a dearth of physical demand are likely to clip any attempted return to last September's record high for the rest of the year.

Here's a primer on the place of gold in an investment portfolio.

Precious metals company Hochschild Mining Plc reported a drop in its attributable production of silver equivalent for the second quarter, and said there was an inventory pile-up at its San Jose mine in Argentina due to regulatory changes.

A fire at a New Zealand gold mine owned by Newmont Mining Corp on Tuesday forced the evacuation of almost 30 miners holed up in underground refuge chambers and halted all operations.

Gold prices rose towards $1,600 an ounce on Tuesday in line with the firmer euro as investors awaited a statement from Federal Reserve chair Ben Bernanke later, after soft U.S. data fuelled talk he may hint at fresh measures to stimulate the economy.

Gold futures popped Friday to nearly $1,600, tracking wider gains in other asset markets, but were underperforming silver and the broad equity market.

An inch of time is an inch of gold, but you can't buy that inch of time with an inch of gold. Does this Chinese proverb ring true in the case of Indians who invest in gold for a 'good time' tomorrow? Or is the craze for the yellow metal ruining the country's economy?

The price of gold was losing value on Thursday in as the U.S. dollar strengthened

The price of gold was flirting with the milestone value of $1,600 per troy ounce on Monday, but concerns about the euro debt crisis tempered the yellowish metal's advance, published reports state.

Gold edged up Tuesday as oil and equities gained ahead of emergency talks by the Group of Seven leading industrialized powers, which will discuss the deepening problems in the euro zone that threaten to spur a global economic meltdown.

Shares of big gold mining companies rocketed higher Friday as the yellow metal regained its status as a safe-haven amid growing fear that the American economy may not be able to offset the combined drag of the euro zone crisis and sharply decelerating growth in China and India.

Gold prices continued its rebound Friday after dipping to a five-month low earlier this week. June delivery of the metal rose was up over 1 percent to $1,595 on Friday after jumping 2.3 percent the day before, the biggest one-day gain since January.

Gold rose more than 1 percent on Friday, building on the previous session's hefty gains, as a recovery in the euro prompted fresh buying of the precious metal after prices slid to five-month lows earlier this week.

Spot gold rallied more than 2.6 percent on Thursday, its largest one-day gain since late January, as technical buy signals and new signs of a sluggish U.S. economy more than offset deepening despair over the euro zone.

Gold prices fell to a 4-1/2-month low on Monday, hit by concerns about a worsening debt crisis in the euro zone following political deadlock in Greece which fuelled risk aversion and put pressure on the euro.

Gold prices fell to a four-month low on Friday as worries over the financial health of Greeceand Spain and huge trading losses for JPMorgan hurt stock markets and the euro, prompting investors to seek refuge in the dollar.

Avion Gold Corp lowered its production forecast for the year after it halted mill expansion plans at its Tabakoto mine in Mali due to a military coup.

Gold steadied in Europe on Thursday after falling to a four-month low in the previous session, as an uptick in the euro after Spain moved to clean up its banks and Europe's bailout fund approved a key payment to Greece took some pressure off prices.

Gold fell for a second day on Tuesday, under pressure from the slide in the euro on the back of political uncertainty in Greece and a change of president in France, while Chinese import figures did little to offset the impact of the weaker currency.