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.
European shares fell on Monday, weighed down by worries over a looming cash crunch in Greece, while the dollar rebounded after concern over the U.S. economy drove the currency to four-month lows on Friday.
The dollar index hit its lowest in more than three months while gold prices jumped on Wednesday as weaker-than-expected U.S. retail sales bolstered confidence the Federal Reserve will hold off raising rates soon.
German bond yields climbed on Tuesday on optimism that inflation may have bottomed in the euro zone, lifting demand for the euro, while volatility in global bond markets weighed on stock indexes.
Government bonds sold off again on Tuesday, driving down stocks and helping push the euro sharply higher against the dollar.
Low-risk bonds sold off again on Tuesday driving down stocks and helping push the euro higher against the dollar. Ten-year U.S. Treasury yields, the benchmark for global borrowing costs, hit their highest since early December, while German 10-year yields added 8 basis points to 0.67 percent.
European shares rose on Monday, led higher by Germany after upbeat factory activity, while the dollar steadied following signs the U.S. economy may be emerging from a recent soft patch.
Stock markets worldwide slumped on Wednesday after a batch of weaker-than-expected corporate results and data showing U.S. economic growth braked more sharply than expected in the first quarter, while the dollar plunged to a nine-week low.
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