Gold off 1-week high, Tokyo dips on firmer yen

(Reuters) - Gold dipped in profit taking on Monday after touching a one-week high last week, while Tokyo futures fell on a firmer yen.

Spot gold fell to $671.90/672.40 an ounce at 0320 GMT, from $674.10/674.90 late in New York on Friday, when it hit its highest in a week at $674.20 an ounce as the dollar weakened on lower-than-expected U.S. data on jobs growth.


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Gold miner Newmont has 2nd-quarter loss after charges

(Reuters) - Gold miner Newmont Mining Corp. posted a quarterly net loss on Thursday as a result of huge charges on the value of its discontinued merchant banking operation and the elimination of its gold hedge positions.

Still, the operating results of the world's No. 2 gold producer beat estimates, even as it sold less gold than a year earlier, but at higher average prices.


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RLPC-Myers Industries postpones $950 mln LBO financing

(Reuters) - The financing, which was being arranged by Goldman Sachs,
consisted of a $685 million bank loan and $265 million in
senior subordinated notes.




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U.S. Stocks Rebound on Upgrades; KB Home, Nordstrom, Terex Shares Advance

(Bloomberg) -- U.S. stocks rebounded, pacing a
global advance, after Wall Street brokerages told investors to
buy shares that fell during last week's $2.1 trillion global
sell-off.

KB Home led homebuilders higher after Citi Investment
Resarch raised the shares to ``buy.'' Nordstrom Inc. posted its
steepest gain since August on a Goldman, Sachs & Co. upgrade.
Terex Corp., the maker of trucks and cranes, surged the most in
three weeks and led the Standard & Poor's 500 Index higher
after Goldman, Sachs & Co. advised clients to buy the shares.


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Canadian Stocks Rebound From Biggest Weekly Loss in 6 Years; Barrick Gains

(Bloomberg) -- Canadian stocks rose after investors
speculated that the biggest weekly sell-off in almost six years
was overdone given that demand for commodities may keep boosting
prices and earnings, and trigger more takeovers.

Barrick Gold Corp. paced gains in raw-material shares, which
had among the biggest declines last week, on higher prices for
bullion and natural gas. Canadian Pacific Railway Ltd. led
industrial companies higher.


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Goldman Sachs, Bear Stearns Bond Risk Surges, Credit Default Swaps Show

(Bloomberg) -- The risk of owning bonds of Wall Street
firms soared as concerns escalated that investment banks will be
hurt by losses from subprime mortgages and corporate debt.

Credit-default swaps on $10 million of Goldman Sachs Group
Inc. bonds jumped as much as $18,000 to a record $85,000,
according to broker Phoenix Partners Group in New York. Bear
Stearns Cos. credit swaps surged as much as $29,000 to $110,000,
also a new high. Lehman Brothers Holdings Inc. climbed as much as
$24,000 to $104,000.


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Gold Futures Drop From 11-Week High as U.S. Dollar Rallies; Silver Falls

(Bloomberg) -- Gold fell from an 11-week high in
New York as the dollar gained the most against the euro in almost
five months, eroding the metal's appeal as an alternative
investment. Silver also fell.

Gold often moves in the opposite direction of the U.S.
currency, which gained after U.S. stocks rebounded from a slump
yesterday. Before today, gold had gained 7.3 percent this year as
the dollar slumped 4.5 percent against the euro.


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Western Union eyes micro-lending

(Reuters) - "We think it is a big opportunity for us. For us, the real
question will be the risk and the ability to ramp this up
around the globe," Gold said.




Micro-lending, a system of making small loans to people
running tiny businesses, was pioneered by Muhammad Yunus in the
1970s in Bangladesh and has spread globally. Yunus won a Nobel
Peace Prize in 2006.


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Gold, Silver Futures Decline After U.S. Dollar's Slump Against Euro Stalls

(Bloomberg) -- Gold fell from a two-month high in
New York as the dollar's decline against the euro stalled,
reducing the appeal of the precious metal as an alternative
investment. Silver also dropped.

The dollar rebounded from a record $1.3845 against the euro
as a price chart some investors use to predict currency movements
suggested the decline was too rapid. Before today, gold has
gained 7.3 percent this year, and the dollar slumped 4.6 percent
against the euro.


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Gold holds steady on weaker dollar, Tokyo dips

(Reuters) - Gold was mostly steady on Monday as the dollar fell to a record low against the euro and a six-week low against the yen, while Tokyo gold futures gave up earlier gains and fell.

The dollar was hurt by continuing worries about the U.S. subprime mortgage sector and some unwinding of yen carry trades, which involves the selling of low-yielding currencies, such as the yen, to invest in higher-yielding currencies and assets.


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Gold Little Changed in Asia After Reaching Two-Month High; Silver Advances

(Bloomberg) -- Gold was little changed in Asia after
reaching the highest in more than two months, supported by the
euro's gain to a record against the dollar and crude oil's
advance last week to near a one-year high. Silver rose.

Gold generally moves in the opposite direction to the U.S.
currency, which slid to a record low of $1.3845 per euro today
amid concern about U.S. loans to homeowners with poor credit.
Crude oil was little changed at $75.53 a barrel at 11:04 a.m.
Singapore time, after climbing to $76.13 a barrel on July 20, the
highest since Aug. 10.


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Oil Options Show $100-a-Barrel Price by 2008, Sooner Than Even Goldman Saw

(Bloomberg) -- The $100-a-barrel oil that Goldman
Sachs Group Inc. said would prevail by 2009 may be only a few
months away.

Jeffrey Currie, a London-based commodity analyst at the
world's biggest securities firm, says $95 crude is likely this
year unless OPEC unexpectedly increases production, and
declining inventories are raising the chances for $100 oil. Jeff
Rubin at CIBC World Markets predicts $100 a barrel as soon as
next year.


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Canada Stocks May Fall on Slowing Chinese Demand; Barrick, Inmet May Fall

(Bloomberg) -- Canadian stocks may fall after China
raised interest rates and U.S. companies, including Google Inc. and
Caterpillar Inc., reported profit below analysts' estimates.

Gold prices in London declined on speculation that the three-
week rally was overdone, given expectations for increased sales
from central-bank reserves. Barrick Gold Corp., the world's biggest
gold producer, and Inmet Mining Corp. may decline, based on bids
submitted to the Toronto Stock Exchange.


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Loan Derivatives Indexes Drop to Record as Debt for Buyouts Hits Snags

(Bloomberg) -- Indexes that allow investors to bet
on the health of the leveraged loan market, which has fueled the
private-equity boom, fell to the lowest since they started
trading as investor demand for the debt wanes.

The LCDX index tied to the loans of 100 companies with
high-yield, high-risk ratings dropped to a record low. The two-
month-old index fell 0.3 to 95 and earlier dropped as low as
94.85 as of 7:38 a.m. in New York, according to Goldman, Sachs &
Co. In Europe, the iTraxx LevX Index of contracts on loans to 35
companies dropped 1 to 96.85, the lowest since it began trading
in October, according to Deutsche Bank AG.


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Gold Drops in London as Weaker Dollar Fails to Spur Buying; Silver Gains

(Bloomberg) -- Gold rose in London, erasing an
earlier decline. Silver also advanced.

Gold for immediate delivery added $1, or 0.2 percent, to
$674 an ounce at 10:03 a.m. local time, after earlier falling as
much as $1.51. Prices this year peaked at $694.25 an ounce on
April 23.


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Harmony Gold postpones $350 mln bond issue

(Reuters) - South Africa's Harmony Gold has delayed a $350 million, seven-year bond issue, it said on Wednesday.

"We have postponed it due to market conditions," spokeswoman Amelia Soares said.


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Gold hits six-week high as dollar slumps

(Reuters) - Gold hit a six-week high on Wednesday as the dollar tumbled to a record low against the euro, but dealers traded cautiously ahead of a testimony by U.S. Federal Reserve Chairman Ben Bernanke.

Analysts were not yet convinced the upward price move was sustainable as recent spikes prompted investors to take profits.


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Encysive, KeyCorp, Lyondell, Novellus, Pogo, STEC: U.S. Equity Movers

(Bloomberg) -- The following is a list of companies
whose shares are having unusual price changes in U.S. exchanges
today. Stock symbols are in parentheses after company names.
Share prices are as of 10:15 a.m. New York time.

American Express Co. (AXP US) rose $2.38, or 3.9 percent, to
$64.26. The No. 4 U.S. credit-card issuer was upgraded to ``buy''
from ``neutral'' at Goldman, Sachs & Co., which said its card-
network business was ``undervalued'' compared with its rivals.


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Gold, Silver Futures May Rise in New York on Speculation Dollar to Weaken

(Bloomberg) -- Gold and silver, little changed in
New York, may rise on speculation a decline in the value of the
dollar will boost demand for the precious metals as alternative
investments.

Gold generally moves in the opposite direction of the
dollar, which was little changed against the euro today after
falling to a record last week. Gold and the euro both have
gained 4.4 percent this year.


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Gold clearing statistics rise in June - LBMA

(Reuters) - Gold ounces transferred rose 11.8 percent to a daily average of 21.8 million ounces in June, compared with the previous month, the London Bullion Market Association (LBMA) said on Tuesday.

Based on an average fixing of $655.49 an ounce -- $11.37 lower than in May -- value increased to a daily average of $14.3 billion from $13.0 billion the previous month.


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