PRECIOUS METAL

ETF Securities said on Tuesday the amount of metal it held to back its Physical Platinum exchange traded commodity fell 10 percent in the week to Aug. 24.

Gold prices will climb to $2,075 next year on six key variables that, UBS said Friday in a report on the precious metal.

Russia's top gold miner Polyus Gold said on Friday its output of the precious metal rose 16 percent year on year to 1.1 million ounces in the first nine months of this year.

BNP Paribas cut its gold price forecasts for 2011 through 2013, following the recent pullback in the precious metal's prices and said a further correction may be possible in the near term.

Gold prices rose 1 percent in Europe on Wednesday as the dollar fell to a three-week low against the euro, and after the Slovak parliament's rejection of a plan to expand the bloc's rescue fund stoked concerns over the Eurozone debt crisis.

Ghana is in talks with gold miners in the country, Africa's second-biggest producer, over additional taxes so as to benefit from the soaring price of the precious metal, the government said on Tuesday.

Gold eased 1 percent early Tuesday, giving up some of the previous day's gains, as stocks and the euro were pressured by waning optimism over a new plan to tackle euro zone debt, and ahead of a vote in Slovakia to ratify changes to the bloc's rescue fund.

Swiss structured products exchange Scoach has become the world's first exchange to allow trading in gold-denominated structured products and might also allow exchange traded funds (ETFs) with gold as the trading currency.

Gold rose more than 2 percent on Monday, lifted by weakness in the dollar versus the euro after France and Germany pledged to come up with a proposal to recapitalize euro zone banks, while traders remained cautious ahead of further details of the plan.

Impala Platinum , the world's second-largest producer of the precious metal, said on Monday it has reached a two-year wage deal with South Africa's National Union of Mineworkers (NUM), averting a possible a strike at the miner.

Gold rose more than 1 percent on Monday as the dollar fell versus the euro after France and Germany pledged to strike a proposal to recapitalize euro zone banks, while traders remained cautious ahead of further details of the plan.

Gold headed up Friday for its biggest weekly gain in a month as equities regained strength after fresh European efforts to resolve the debt crisis eased worries about a global recession, while purchases from jewelers offered additional support.

Gold headed for its biggest weekly gain in a month Friday as equities regained strength after fresh European efforts to resolve the debt crisis eased worries about a global recession, while purchases from jewelers offered additional support.

Gold fell in choppy trade on Thursday after the European Central Bank held off flagging an imminent cut in interest rates, deflating an earlier rally in assets seen as higher risk, such as equities and the euro.

Gold firmed in Europe on Thursday as a strong recovery in equity markets cut selling of the precious metal to cover losses elsewhere, and as physical buyers took advantage of lower prices to stock up.

Gold fell more than 1 percent on Wednesday, extending the previous day's hefty losses, as rising equities diverted some interest from the precious metal, and as investors remained wary of buying into the market after its recent sharp volatility.

Wealthy individuals should buy gold as the yellow metal has become an attractive investment following last month's sharp reversal, private bankers in Asia said on Monday.

Gold headed for its largest one-day rise in nearly a month on Monday and silver climbed almost 5 percent after Greece warned it will miss deficit targets set to avoid bankruptcy, unleashing a sell-off in equities and commodities.

Gold strengthened further on Monday as falling equities and lingering worries about a debt crisis in Europe drew investors to the precious metal, which posted its the biggest quarterly gain this year, but a firm U.S. dollar could still cap gains.

Central banks' gold buying is lifting the price of the precious metal in a trend that analysts expect to continue even if widespread predictions of a price rise to $2,000 by year-end comes true.

Gold jumped more than 1 percent on Friday after Germany's approval for expanding the euro zone bailout fund offered temporary relief to investors, but the precious metal was heading for its worst monthly decline in three years.