VENTURE CAPITAL POST

The lawsuit claims a penalty of $18 million as well as the returning of $2 million royalty payment because Jay Z was not abiding by the agreement that he would promote his signature fragrance. Parlux Fragrances claimed that they have lost millions from potential sales and development costs and demanded a compensatory fine.

Asian stocks dropped on low trading volume as commodity producers followed fall in industrial metals and crude oil. Investors and institutions are in the wait and watch mode ahead of US Fed's meeting in December.

Gold prices are at their lowest in three weeks after the Federal Open Market Committee announced that they won't push through with the interest rates hike.

The Shanghai Gold Exchange (SGE) has allowed using physical gold and other securities as collateral on futures contracts trading. The move is aimed at increasing volumes and attracting investors from other markets.

Gold Distribution and Gold ATM Vending Company, Zen Gold, is under heavy fire from Tony Hetherington. The British Entreprenuer claims that his investment in the gold company turned to dust.

The stock markets last week witnessed shifting of priorities to gold and money markets funds as high volatility make equity markets uncertain following the steep fall of over nine percent on Chinese market on opening day of the week Monday. This has led to record outflows from equity funds during the week.

Prices of various precious metals have dropped, hitting junior miners. This prompted the junior miners to venture on various unconventional options, ranging from exporting eggs to farming medical marijuana.

Gold fell more than 1 percent to a five-year low on Wednesday as a bounce in the dollar fueled downside momentum, with investors continuing to pull away from the metal after its dramatic slide earlier this week.

India is planning to issue sovereign bonds linked to the bullion price in an effort to divert some of the estimated 300 tonnes of annual demand for gold bars and coins, and reduce bullion imports that can push up the trade deficit.

Asian shares rose for a third consecutive day on Friday even as China stocks tumbled into correction territory, while the Federal Reserve's cautious stance towards lifting interest rates kept the dollar on the back foot.

Bigger isn't better for the world's gold miners, who are increasingly making "bite-sized" developments that carry less risk of budget disasters and fewer of the political and environmental disputes that have derailed mega-mines in recent years.

The euro rose on Thursday as Greece fought to reach an agreement with its lenders to avoid an imminent default, but mixed signals on the state of the negotiations kept other markets little changed.

The dollar took a breather on Thursday after hitting its highest level against the yen since 2002, and stocks stuttered as high-flying Chinese shares tumbled and European officials downplayed talk of an imminent deal to keep Greece afloat.

A string of reversals from sharp moves the previous day marked global financial market trading on Wednesday, with stocks and oil gaining ground and the U.S. dollar falling after its biggest rally in two years.

The euro tumbled on Tuesday and the region's stocks and bonds jumped after the European Central Bank suggested it may speed up its 1 trillion euro bond-buying campaign slightly to account for lower market liquidity in high summer.