IBT Staff Reporter

Gold futures edged lower on Friday but managed to close the week with a gain of almost 4 percent as oil prices continued to soar and weakness in the U.S. dollar boosted the demand for a hedge against inflation.

U.S. stocks fell on Friday to a three month low as the oil price continued to rise following increased violence in the Middle East and more trouble persisted in the financial sector.

Since Wednesday, June 11, natural gas spot prices increased at all markets in the Lower 48 States except one, despite the lack of weather-related demand in much of the country. The restoration of production at the

The U.S. and China agreed to begin negotiations for an investment treaty that would guarantee access for the nations' companies to buy assets in the other country, representatives said at the close of a week-long meeting in Annapolis.

Just two weeks ahead of Zimbabwe's run-off election, President Thabo Mbeki of South Africa met with President Robert Mugabe in what appeared to be a last-minute effort to avoid any tampering to the ballot in an election already marred by violence and intimidation.

Gold futures rose on Wednesday on speculation that a slumping U.S. economy will prevent the Federal Reserve from lowering interest rates, while soaring oil prices and a weaker dollar boosted the demand for the precious metal.

Refinery utilization was lower than typical in first quarter 2008. Actual first-quarter 2008 utilization averaged 84.7 percent, compared to the average of 89.1 percent during first quarter 2001 through 2005 (years where first quarter

Tiger Woods will have reconstructive surgery on his left knee that will sideline him for the rest of the 2008 season, the world number one said on Wednesday.

U.S. stocks fell for the second day on Wednesday after economic bellwether FedEx Corp. released disappointing results and reinforced concern over bank losses.

France will soon rejoin NATO's military command after its four-decade absence, French President Nicolas Sarkozy said Tuesday, as part of a 15-year plan that highlight terrorism as the largest national security threat.

Zimbabwe President Robert Mugabe met United Nations Special Envoy Haile Menkerios on Tuesday amid international concern over the country's widespread violence, just 10 days ahead of the a run-off presidential election.

Gold futures closed with modest gains on Tuesday on speculation a weak dollar and soaring energy cost will boost the demand for the precious metal while another round of weak U.S. data boosted concerns about economic growth.

U.S. stocks on Tuesday fell for the first time in four days after Goldman Sachs predicted anks will have to raise $65 billion in new capital to cover losses in the face of economic data that further highlights soaring inflation amidst a troubled housing market.

Marvel's latest superhero movie The Incredible Hulk opened its first weekend with a better than expected $54.5 million, standing in at the first place at the North America Box Office.

Gold futures rebounded on Monday and closed with strong gains after the U.S. dollar declined, boosting the investment appeal of the precious metal.

Zimbabwe's President Robert Mugabe threatened to arrest Morgan Tsvangirai, the opposition leader who faces Mugabe in a runoff election for president June 27, according to media reports released on Monday.

Britain's Prime Minister Gordon Brown said on Monday the country will freeze assets of Iran's largest bank in a further move to discourage the country from developing nuclear weapons, after which he also announced additional troops for Afghanistan.

U.S. stocks fell on Monday for the first time in three days, giving back some of Friday's gains, after a bigger-than-expected drop in New York state manufacturing and a decline in the dollar cast doubts about the state of the U.S. economy, while oil jumped $4 a barrel.

Lehman Brothers Holdings Inc's chief executive Richard Fuld said the fourth largest U.S. investment bank is 'sound' as it matched its previous loss forecast on Monday by restating an unacceptable $2.8 billion loss for the second fiscal quarter.

Europe was thrown into political chaos Friday by Ireland's rejection of the Lisbon Treaty, a negotiated blueprint for consolidating the European Union's power and streamlining its increasingly unwieldy bureaucracy.

The economy is in a bad place and people are casting about, sometimes desperately, for ways to ease the crunch. I know this because of the contents of my e-mail inbox, which grows more outlandish all the time.

Oprah Winfrey does it -- and even blogs about it. As more celebrities jump on the detox bandwagon, it's also catching on with the general public. But some medical professionals say these body cleansing diets are not only unnecessary, they can be dangerous.

Gold gained on Friday, erasing earlier losses on speculation that higher food and energy prices will spur inflation, while the dollar strengthened against the euro and other major currencies, lowering the investment appeal of the precious metal.

A group led by NBC Universal appears to be moving forward with plans to acquire The Weather Channel, after Time Warner Inc. withdrew its bid for the channel, according to media reports released on Friday.

China's main stock index Friday fell 3 percent to a 15-month low, and totally 13.84 percent decline in the week, making a more than 11 years biggest weekly decline record since December 1996.

U.S. stocks rose on Friday, paring the week's losses, after oil retreated and by a rising dollar while some measures of inflation matched economists' forecast, damping speculation the Federal Reserve will boost interest rates this year.

Gilead Sciences Inc. said on Friday that its Aztreonam lysine treatment for cystic fibrosis met positive results in a Phase III clinical study designed to determine the safety and efficacy of the drug.

American International Group Inc's financial-products division has come under scrutiny in government probes, The Wall Street Journal reported on Friday.

U.S. senator Charles Grassley asked to scrutinize if the drug maker GlaxoSmithKline Plc withheld safety information that linked its drug Paxil to suicide risk.