The Federal Open Market Committee indicated Wednesday that it has no intentions of taking its foot off the gas pedal for monetary accommodation just yet, which on balance should offer underlying support for the gold market, observers say.

German Chancellor Angela Merkel said she expects turbulence in 2012 as she does “everything” to save the euro amid the Europe’s sovereign debt crisis.

“The path to overcoming this won’t be without setbacks but at the end of this path Europe will emerge stronger from the crisis than before,” Merkel said in a New Year’s television speech to the nation, sent in advance by e-mail.

Oil headed for its biggest weekly gain in almost two months in New York after U.S. economic reports indicated that growth in the world’s biggest crude consumer will accelerate.

Standard & Poor’s said Japanese Prime Minister Yoshihiko Noda’s administration hasn’t made progress in tackling the public debt burden, an indication it may be preparing to lower the nation’s sovereign grade.

Wall Street edged lower on Monday as Italyand Greece rushed to form technocrat-led governments in a bid to stave off the euro zone's debt crisis, and as data showed the region is facing a looming recession.

Gold futures topped $1,800 an ounce for the first time in almost seven weeks on concern that European leaders will be unable to contain the region’s debt crisis, fueling demand for the precious metal as a haven.

U.S. stocks dropped, driving the Standard & Poor’s 500 Index to the biggest two-day slump in a month, on concern Europe’s bailout for Greece is in jeopardy.

U.S. stocks rose, following the longest weekly rally since February in the Standard & Poor’s 500 Index, amid takeover deals, as Caterpillar Inc. (CAT)’s earnings beat estimates and Europe made progress taming its debt crisis.

Oil dropped for a second day in New York after China said its economy grew at the slowest pace in two years and U.S. crude stockpiles were forecast to increase.

European countries with debt ratings below the top Aaa level may see reductions in their rankings, Moody’s Investors Service said.

The Federal Reserve will purchase $44 billion of longer-maturity Treasuries and sell the same amount of shorter-term debt in October under its monetary stimulus plan that’s become known as Operation Twist.

European policymakers, stung by criticism for failing to stem the euro zone debt crisis, began working on new ways to stop fallout from Greece's near-bankruptcy from inflicting more damage on the world economy.

A cultural affinity for gold coupled with expanding economies and individual wealth are likely to mean continued strong demand for the metal in the key nations of India and China for years to come, speakers told the London Bullion Market Association Tuesday.

Oil dropped for a second day in New York as investors bet that increasing U.S. fuel stockpiles and signs of a weakening economy indicate demand will falter in the world’s biggest crude-consuming nation.

Funds increased bullish bets on raw materials for a fourth straight week, the longest series of gains this year, on speculation that economic-stimulus programs will lift demand for metals, grains and energy.

President Barack Obama laid out a $450 billion jobs plan in a speech late Thursday, saying the plan has elements pleasing to both Democrats and Republicans and that it will not add to the U.S.’s budget deficit.

Commodities ended trading mixed as gold and silver pulled back while crude advanced on a strong performance for stocks during the day.

Major stock averages fell on Thursday as traders were quick to shed positions ahead of a keenly awaited address by Federal Reserve Chairman Ben Bernanke on Friday.

Stock futures were lower Thursday as continued concerns about eurozone contagion overshadowed an unexpected drop in initial jobless claims.

Gold prices were closing in on $1,900 an ounce Monday on rampant safe-haven buying and as Japan threatened to intervene in the currency market. 

Gold, trading above $1,900 an ounce, may advance toward a record on speculation Europe’s debt crisis will worsen, damping economic growth and driving investors to protect their wealth.

Gold futures rose to a four-week high as China's physical demand surged to a record and Europe's debt woes spurred demand for a haven.

Oil rose on speculation supplies may be cut by a strike in Nigeria and the threat of sanctions on Iran. Most Asian stocks fell and gold advanced for a third day before European governments sell debt.

Asian stocks (MXAP) fell for a third day and copper retreated afterIndia’s Prime Minister cut his economic growth forecast and Australian retail sales missed estimates. The euro touched an 11-year low against the yen before European leaders meet to discuss rescue plans for the region.

Like a freight train, the gold rally has taken down everything in its path, as it comes off its strongest three day rally since 2008, hitting a nominal all-time high of $1,779 an ounce, while the GLD physically backed exchange-traded fund (ETF) saw its daily holdings reach their highest level ever.

U.S. stocks rallied, reversing earlier losses, as the government’s list of “problem” banks declined for the first time since 2006 and investors speculated the Federal Reserve will act to spur the economy. Treasuries fell before a sale of two-year notes.

Gold futures rocketed higher Friday as a weaker-than-forecast U.S. employment report added fuel to ideas that the Federal Reserve will undertake some kind of further monetary stimulus.

BRASILIA, Brazil (AP) -- Brazil had record trade figures in 2011, logging $256 billion in exports and maintaining a $29.7 billion surplus on the back of high commodity prices and strong Chinese demand, officials said Monday.

Exports to China hit $44.3 billion, an increase of more than 43 percent over 2010. In 2009 China surpassed the U.S. as Brazil's biggest trading partner.

Oil rose after U.S. retail sales increased by the most in five months and equities gained, signaling stronger growth and higher demand.

Friday’s unemployment data from the U.S. Department of Labor is always a bellwether report, but the April report, slated for release at 8:30 a.m. EDT, is likely to take on greater significance in light of other, recent U.S. economic data.