Gold eased in Asia on Monday after see-sawing most of the day as selling on low inflation signals gave way to safe-haven buying on concern over Hungary's debt crisis and a cut to Ireland's sovereign rating.
But by late afternoon, bearish sentiment had again gripped the sector, sending bullion down by more than $2 an ounce.
The euro extended losses on Monday, pulling further away from two-month highs, after Moody's cut Ireland's credit rating, highlighting the fragility of Europe's fiscal health.
Oil prices fell below $76 a barrel on Monday, extending the previous session's decline, on concern about the U.S. economic outlook after data showed consumer sentiment fell to a near one-year low.
News that the IMF and European Union has suspended a review of Hungary's funding program at the weekend has also ignited fresh eurozone jitters, as the country will not have access to remaining funds in its $25.1 billion loan package set up in 2008 until the review is concluded.
Gold steadied in Asia on Monday after early selling on low inflation signals gave way to fresh concerns over Hungary's ability to pay its debts prompted safe haven buying.
But longer term, the firmness in bullion is not supported by technical analysis, which suggests gold is ready to ease further to lows last seen in late May of $1,175 per ounce.
The euro pulled back from two-month highs on Monday, as investors booked profits on its rally while lingering concerns about Europe's sovereign debt problems looked likely to keep a lid on future gains.
High-yielding currencies like the Australian and New Zealand dollars were also under pressure as subdued U.S. data and falling equities .SPX led investors to shun risky trades.
Boeing Co's new 787 Dreamliner touched down in Britain on Sunday on its first trip outside the United States, thrilling hordes of eager planespotters who came out to see the breakthrough carbon-composite plane.
A drop in consumer confidence in Europe amid worries about the region's debt crisis is holding back a recovery in global consumer sentiment and weighing on the broader economic outlook, a survey showed on Sunday.
Tesla Motors Inc and Toyota Motor Corp said on Friday that they will together build and market an electric RAV4 sports utility vehicle by 2012.
Stock index futures were higher on Friday after quarterly profits from General Electric Co and Bank of America Corp topped estimates as earnings season heated up.
Global oil prices remained under $77 in highly volatile Asian trade as equity markets fell across the region while concerns over potential storms on the east coast of US helped the black gold. Light sweet crude for August delivery was seen trading at $ 76.71 a barrel at 11.30 a.m Singapore time while ICE Brent for September, the front-month contract after August expired on Thursday, gained 1 cent to $76.10 on the Comex.
The dollar hovered near a 2- month low and the Nikkei slumped amid weak Asian stock markets as the outlook for the U.S. economic recovery worsened.
Boeing Co said on Thursday that issues raised in its 787 Dreamliner flight tests could delay first delivery of the long-awaited carbon-composite aircraft into the first part of 2011, but the company also expects an uptick in new plane demand over the next two decades.
Toyota Motor Corp said on Wednesday it will extend warranties on about 235,500 RAV4 vehicles and address steering complaints on as many as 500,000 late model Matrix and Corollas in the United States.
A strike has broken out at a south China factory supplying parts for Japan's Honda Motor, the latest in a string of stoppages by Chinese workers demanding a bigger piece of the country's economic wealth.
Honda Motor Co, Japan's No.2 automaker, will drop plans to build a new minivehicle factory and focus on its green vehicles business
Markets are relatively patient about the budget-cutting efforts of Britain, the United States, Germany and Japan, but that could change if governments are slow to act, OECD chief Angel Gurria said on Thursday.
China's economy cooled in the second quarter, a slowdown that is likely to extend over the rest of the year as Beijing steers monetary and fiscal policy back to normal after a record credit surge to counter the global crisis.
China's economy cooled in the second quarter, a slowdown that is likely to extend over the rest of the year as Beijing steers monetary and fiscal policy back to normal after a record credit surge to counter the global crisis.
The Bank of Japan revised up its economic forecast for the current fiscal year on Thursday but reiterated that it will keep monetary policy easy, with deflation likely to persist at least until early 2011.
The central bank kept interest rates at 0.1 percent and held off on new policy initiatives as widely expected, in a unanimous vote.
Gold edged up on Thursday after China's growth data for the second quarter was slightly weaker than expected, helping revive the precious metal's allure as a hedge at a time of economic uncertainty.
Meanwhile, economists expect Beijing to make no dramatic policy response to Thursday's data, which is seen as positive for the precious metal's demand in China, analysts said.
The Bank of Japan revised up its economic forecast for the current fiscal year on Thursday but reiterated that it will keep monetary policy easy, with deflation likely to persist at least until early 2011.
The central bank kept interest rates at 0.1 percent and held off on new policy initiatives as widely expected, in a unanimous vote.
Asian stocks fell on Thursday as investors took profits from a recent rally after the Federal Reserve's caution on the U.S. economic recovery, even as Chinese data pointed to only a mild cooling in that economy.
