Egypt to offer eight gold mining concessions

(Reuters) - Egypt plans to offer eight new gold mining concessions as part of its scheme to revive its precious metal industry, a senior official said on Wednesday.

The Arab world's most populous country, which once considered gold the skin of the gods, is revisiting ancient deposits of the metal -- some of which have not been worked for 2000 years.


Read more at Reuters Africa

Gold rallies from 3-month low, Tokyo futures up

(Reuters) - Spot gold bounced back on Thursday, recovering from a three-month low on bargain hunting, while Tokyo futures rose by 1 percent, helped by a slide in the value of the yen.

Spot gold rose to $650.10/$650.70 an ounce at 0350 GMT, compared with $647.20/$647.70 last quoted in New York.


Read more at Reuters Africa

Currency Volatility to Rise, Eroding Carry Trade Returns, Goldman Predicts

(Bloomberg) -- Greater fluctuations in the prices
of stocks, bonds and currencies will likely erode profits from
one of the most popular investment strategies in the foreign
exchange market, according to Goldman, Sachs & Co.

A Goldman index that tracks three-month implied volatility
on options on eight major currency pairs is at 6.03 percent,
after reaching 5.78 percent last week. The record low, set in
November, was 5.54 percent. Implied volatility, which traders
quote as part of setting options prices, indicates expectations
for future price swings.


Read more at Bloomberg Emerging Markets News

Australian Dollar Retreats Against Yen After RBA Governor Stevens' Speech

(Bloomberg) -- Australia's dollar declined from the
strongest in 15 years against the yen after Reserve Bank of
Australia Governor Glenn Stevens said he has ``time'' to respond
to faster economic growth and inflation.

The currency retreated as traders pared bets the central
bank will increase the benchmark interest rate by November. The
cost of borrowing last week was left at 6.25 percent for a sixth
meeting. The Australian dollar initially rose against the yen as
a surge in U.S. stocks encouraged traders to buy higher-yielding
assets with money borrowed in Japan.


Read more at Bloomberg Currencies News

Currency Volatility to Rise, Eroding Carry Trade Profits, Goldman Predicts

(Bloomberg) -- Greater fluctuations in the prices
of stocks, bonds and currencies will likely erode profits from
one of the most popular investment strategies in the foreign
exchange market, according to Goldman, Sachs & Co.

A Goldman index that tracks three-month implied volatility
on options on eight major currency pairs is at 6.03 percent,
after reaching 5.78 percent last week. The record low, set in
November, was 5.54 percent. Implied volatility, which traders
quote as part of setting options prices, indicates expectations
for future price swings.


Read more at Bloomberg Currencies News

BNP Paribas, Gemalto, Group Eurotunnel, Bongrain: French Equity Preview

(Bloomberg) -- Shares of the following companies
may rise or fall on the Paris stock exchange. Stock symbols are
in parentheses and prices are from the last close.

The CAC 40 Index jumped 36.11, or 0.6 percent, to 5934.27.
The SBF 120 Index also added 0.6 percent.


Read more at Bloomberg Stocks News

South Korea's Samsung Card to Raise $619 Million From Initial Share Sale

(Bloomberg) -- Samsung Card Co., South Korea's
third-largest credit card issuer, plans to raise 576 billion won
($619 million) in an initial share sale to help repay debt.

The company and its owners will sell 12 million shares at
48,000 won each, more than the high end of the 40,000 won to
45,000 won range marketed to investors, Seoul-based Samsung Card
said in a regulatory filing today.


Read more at Bloomberg Emerging Markets News