U.S. stock index futures pointed to a higher open on Wall Street on Thursday, with futures for the S&P 500 up 0.62 percent, Dow Jones futures up 0.47 percent and Nasdaq 100 futures up 0.52 percent at 0900 GMT (4 a.m. EST).
Gold prices tumbled nearly 5 percent to a one-week low below $1,140 an ounce on Friday as investors fearing debt default in Dubai sought safety in dollars and cash.
The dollar slumped to a 14-year low against the yen on Thursday, helping gold scale another record high, while Asian stocks faltered as investors digested a mixed batch of economic data.
Asian stocks rose on Wednesday after the Federal Reserve raised U.S. growth forecasts for 2010, while gold struck a record high on a weaker dollar and a media report India was open to buying more of the precious metal.
Gold scaled a record high at $1,173.50 an ounce on Monday as a weaker dollar boosted buying in gold as a hedge against depreciation of paper currencies.
Billionaire hedge fund manager John Paulson is launching a new gold fund, which will include $250 million of his own personal investment, the Wall Street Journal reported on Wednesday.
Gold hit a fresh record high near $1,150 an ounce on Wednesday, boosting precious metals across the board, as a dip in the dollar index added to momentum buying as prices broke through key technical resistance levels.
Gold shot to a record high on Wednesday as the dollar slipped to its lowest in more than a year and analysts predict further gains for the precious metal on the U.S. unit's persistent weakness.
Gold prices retreated on Thursday from the record highs they hit in the previous session as the dollar rose ahead of policy decisions from the UK and the euro zone, which curbed appetite for assets seen as higher risk.
Stock futures point to a mixed start on Friday for U.S. shares, following gains on Thursday.
Stock index futures point to a mixed start on Friday for U.S. shares, following gains on Thursday.
Gold prices rallied to record highs for a third successive session in Europe on Thursday, as persistent weakness in the dollar fueled fund buying of the metal as an alternative to the U.S. unit.
Spot gold topped $1,050 per ounce to mark a record high for the third session in a row on Thursday as the dollar's continued struggle made the precious metal more attractive to investors.
Gold set record highs for a second straight session on Wednesday as investors bought the precious metal due to fears the dollar may weaken further, bringing inflation.
Gold's run to a record $1,048.20 per ounce on Wednesday was greeted cautiously by consumers in Asia and the Middle East, with some cashing in gains while the majority were hanging on for further rises.
Gold consumers across Asia greeted bullion's run to a record high cautiously on Wednesday, with a few moving to cash in gains but the majority opting to wait for the rest of a rally they believe has only just begun.
Gold surged to a record high above $1,040 per ounce on Tuesday, as investors piled into the metal to preserve the value of their dollar-denominated assets against erosion by a weakening dollar and inflation.
Gold surged to a record high above $1,040 per ounce on Tuesday, with buying fueled by dollar weakness after a report, later denied, that Gulf Arab states were considering abandoning the U.S. currency for oil trade.
Gold stayed above $1,000 an ounce on Monday as the dollar remained pressured after last week's jobs data pushed the currency down broadly on concerns the U.S. economic recovery may not be as robust as previously thought.
The price of gold could rise as high as $1,600 an ounce as investors opt for assets with lasting value rather than volatile currencies, says one hedge fund manager who has increased his exposure to the precious metal.
Gold powered through the $1,000 per ounce psychological barrier on Tuesday, carried by a wave of pent-up technical momentum and dollar weakness, with some analysts eyeing last year's record high at $1,030.80.
Gold powered through the $1,000 per ounce psychological barrier on Tuesday, carried by a wave of pent-up technical momentum and dollar weakness, with some analysts eyeing last year's record high at $1,030.80.
