Gold rises on inflation concerns, TOCOM up 1 pct

(Reuters) - Gold rose on Friday after posting strong gains the previous day amid growing inflationary concerns and a rally in base metals, with strength in Japanese gold futures providing additional support.

Follow-up short-covering emerged in Asia to push cash prices to their highest in more than a week, but traders were careful about buying heavily following falls in the last week and after hitting technical resistance.


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Crude Oil Prices May Fall on Signs Supply Will Meet Demand, Survey Shows

(Bloomberg) -- Crude oil may fall speculation that
U.S. inventories are sufficient to meet the needs of refineries
making gasoline for the peak-demand summer months.

Eighteen of 46 analysts surveyed, or 39 percent, said oil
prices will decline. Fourteen, or 30 percent, said prices will
rise and 14 forecast little change. Last week, 36 percent of
respondents said prices would gain.


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UPDATE 1-Advantage secures $2.6 bln for Tokyo Star-sources

(Reuters) - Advantage is in final negotiations to buy two-thirds of Tokyo
Star from another fund, Dallas-based Lone Star [LS.UL]. Under
Japanese law, it would then have to make a tender offer for all
the Tokyo-based firm's shares.




The structure of the financing will now be studied by
Japan's regulatory watchdog the Financial Services Authority.


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Central Banks to Boost Euro Holdings in Reserves, China's Wu Xiaoling Says

(Bloomberg) -- Central banks will boost holdings of
the euro as the European region's economy expands and the
currency remains ``stable,'' said Wu Xiaoling, vice governor of
the People's Bank of China.

The single currency of 13 nations from the European Union
has risen 1.9 percent this year against the dollar as the area's
growth beat economists estimates and the European Central bank
raised interest rates to 3.75 percent. Wu reiterated China
doesn't plan to cut its holdings of dollars, which make up most
of its $1.2 trillion in foreign-exchange reserves.


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Lai Sun and ESun Seek $1.7 Billion Loans to Fund Casino Project in Macau

(Bloomberg) -- Lai Sun Development Co., a Hong Kong
real estate developer, and its media unit hired Deutsche Bank AG
and Morgan Stanley to arrange $1.7 billion in loans for a casino
project in Macau.

The loans will be used to fund development and construction
of the hotel, retail and entertainment portions of Macao Studio
City, a 3.65 million square-foot project, Lai Sun and ESun
Holdings Ltd. said in a joint statement to Hong Kong's stock
exchange today. The site is located in Macau's Cotai district,
the companies said.


Read more at Bloomberg Emerging Markets News

Gold rises on inflation concerns

(Reuters) - -- Gold climbed as high as $663.00 on Friday -- the highest since May 23.




-- The cash price faced some technical resistance around $662, which is the 100-day moving average level.


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Wal-Mart: $4 generics now 38 pct of filled scripts

(Reuters) - Wal-Mart's U.S. chief operating officer, Bill Simon, made the comments at a media conference one day ahead of its annual shareholders' meeting amid ongoing criticism from labor groups that contend the world's largest retailer offers inadequate pay and health care benefits to its workers.




Wal-Mart began selling certain generic drugs for $4 per monthly prescription in September and by the end of November had extended the program to all its U.S. pharmacies -- far ahead of schedule. Other retailers, including close rival Target Corp., have rolled out similar programs.


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