CHINA

China's trade surplus surged unexpectedly in July to an 18-month high of $28.7 billion as exports beat forecasts, but a government-induced slowdown in investment took a toll on imports.

Stock index futures fell on Tuesday, weighed by worries over weaker-than-expected import data from China and a cautious mood ahead of the Federal Reserve's meeting on monetary policy.

Stock index futures pointed to a lower open on Wall Street on Tuesday ahead of the outcome of the Federal Reserve's policy meeting, with futures for the S&P 500 down 0.58 percent, Dow Jones futures down 0.52 percent and Nasdaq 100 down 0.67 percent at 4:45 a.m. EDT.

It seems disasters are set to hit gold production in a big way this year. As reports come in from China about fire at a gold mine at Yantai in Shandong province killing 16 people, Chile also reported major accidents at its mines last week.

Oil dropped a dollar to below $81 a barrel on Tuesday, sapped by hints of weaker demand for fuel in the world's top energy users and a strengthening U.S. dollar. U.S. crude for September delivery fell $1.03 to $80.45 a barrel at 6:20 a.m. ET, off a session low of $80.30. London Brent crude was down $1.30 at $79.69.

U.S. stock index futures pointed to a lower open on Wall Street on Tuesday ahead of the outcome of the Federal Reserve's policy meeting, with futures for the S&P 500 down 0.58 percent, Dow Jones futures down 0.52 percent and Nasdaq 100 down 0.67 percent at 4:45 a.m. ET.

Gold steadied around $1,200 on Tuesday on bargain hunting as investors bet the U.S. Federal Reserve would take further steps to ease monetary policy later in the day, boosting bullion's safe-haven appeal.

Oil fell below $81 on Tuesday as China's crude imports slowed sharply in July, raising the prospect of less purchases by the world's second largest energy consumer as its economic growth cools in the second half. China imported 19 million tonnes or 4.47 million barrels per day of crude oil in July, down 17.5 percent from June's record 5.4 million bpd, official data showed.

The dollar rose on Friday and world stocks slipped as investors stayed cautious ahead of likely moves by the U.S. Federal Reserve to warn about and possibly prop up a softening economic recovery.

Oil fell to near $81 on Tuesday as China imports slowed pace in July, raising the prospect of less crude purchases by the world's second largest energy consumer as economic growth cools in the second half.

Gold ticked lower on Tuesday as early bargain hunting subsided, but investors bet the U.S. Federal Reserve would take further steps to ease monetary policy later in the day, boosting bullion's safe-haven appeal.

The dollar staged a rebound against major currencies on Tuesday as traders pared short positions on looming uncertainty over whether the U.S. Federal Reserve will start a new phase of quantitative easing to deal with a slowing economy.

The China International Silver Conference (CISC) will be held in Beijing, October 15-17. This annual event in China has become one of the most important forums for market participants to discuss trends and important developments in the global silver market.

Who's the Swiss investor hwo lapped up a major quantity of Krugerrand gold bullion coins by the Rand Refinery and dried up its Kruggerand reservoir? Rand Refinery, the world's largest gold refinery refuses to reveal the identity of the individual but said that the stock can be replenished only in September.

New summer drinks in the United States and longer hours in Europe helped McDonald's Corp sales beat Wall Street forecasts for July and lifted its shares to their highest ever.

BMW, the world's biggest premium car maker, increased sales volumes of its flagship BMW brand by 12 percent in July thanks largely to soaring demand in China.

Car sales in China rose at their slowest in 15 months in July as the world's largest auto market cooled further after a roaring 2009, but Indian sales hit a record high thanks to sound economic prospects and new models.

McDonald's Corp reported a better-than-expected 7 percent global increase in sales at established restaurants in July, fueled by new drinks like smoothies, extended hours in Europe and strength in Asia.

Problems at the mines in South Africa, increasing demand due to the rise in auto sales and emerging markets like India and China will ensure that platinum and palladium outperform gold in the coming years.

Following China's decision to open up the gold sector by allowing more banks to trade in bullion, Indian banks have also decided to approach the Reserve Bank of India for permission to trade in gold. Several banks have moved the RBI seeking permission to trade in gold in the domestic market and even hedge their requirements on futures exchanges.

Oil prices rose to above $81 a barrel on Monday, as a weaker dollar supported prices that had fallen for three straight days last week, in part on poor U.S. economic data. Analysts said the dollar, which is slipping toward a 15-year low against the yen, could, along with rumblings of geopolitical tensions in the Middle East, continue to bolster oil prices that last week ended above $80 for the first since May.