Gold prices held steady on Friday, on course for a fifth straight week of gains, as investors awaited a key U.S. labor market report after upbeat jobless claims data in the previous session helped send bullion to a two-month high.
Gold prices rose for a second straight day on Wednesday in correlation with the euro. It came on the same day that the Global Investor Confidence index measured by State Street Global Markets fell just more than two points, suggesting that the continuing economic turbulence is fueling investors to seek out more stable assets like gold.
Gold prices Thursday extended last month's rally after positive manufacturing from China to the Europe to the U.S. and Greece appeared close to a settlement with its creditors.
Many analysts remain bullish on gold and expect it to continue to rally in 2012.
OroCash, Italy's biggest buyer of used gold jewelry, expects business to flourish this year with the opening of 150 new collection points in Italyand abroad as high gold prices and unfolding economic crisis prompt people to sell family assets.
Gold rose on Wednesday as the dollar slipped against the euro and on strong global manufacturing data, while analysts said profit taking could pressure the precious metal after its biggest January gain in 32 years.
Gold prices rose Wednesday, at one point topping the $1,750 mark, but generally stayed within a narrow range in the absence of any single dominant factor.
Gold prices were on course for their biggest monthly rise since August on Tuesday, boosted by economic unease in Europe and the United States and raising the possibility of a climb toward last year's record high of just over $1,900 per ounce.
Gold prices, headed for their strongest January in three years, rose Tuesday as fears of a Greek sovereign debt default receded, the dollar weakened and crude oil and copper prices increased.
Gold eased on Monday, under pressure from a weaker euro, but was off session lows and still within sight of last week's seven-week highs, supported by evidence of improved investor demand.
Gold prices slipped Monday as the euro fell, global stocks declined and investors booked profits from recent gains.
Gold prices posted a modest gain Friday, capping a three-day rally as well as a week in which the yellow metal jumped 4.15 percent.
Gold prices leveled off Friday, consolidating the week's dramatic gains, amid prospects for more increases next week and next month.
A tankless toilet so inspired Japan's Panasonic Corp. that the company will end their production of water-logged toilets and focus on the design alternative.
Gold prices jumped Thursday after the Federal Reserve surprised markets by saying ultra-low interest rates will continue through 2014.
Federal Reserve Chairman Ben Bernanke said Wednesday the central bank was ready to offer the economy additional stimulus after it announced it would likely keep interest rates near zero until at least late 2014.
Gold rallied 2 percent on Wednesday, rising above $1,700 an ounce for the first time since mid-December after the U.S. Federal Reserve said it will likely not raise rates for longer than previously expected due to a sluggish economic recovery.
Gold prices struggled Wednesday to hold recent gains as the dollar rose and investors awaited results of the Federal Reserve's two-day meeting on interest rates.
Gold fell on Tuesday as a lower euro, due to an impasse to restructure Greek debt, and weakness in crude oil and equities prompted investors to take profits.
Gold prices retreated Tuesday as the dollar rose in value, investors took profit from more than three weeks' of gains and talks between Greece and its debtors hit a snag.
Gold rose 1 percent on Monday to a six-week high, boosted by technical buying and as the euro rallied ahead of the outcome of a euro zone meeting on Greek debt restructuring.
Mali is seeking to raise the state share in mining projects to 25 percent from 20 percent in a proposed revision to the West African gold producer's mining law, a senior official at the state regulator told Reuters on Monday.
