Gold powered to a record above $1,160 an ounce on Monday after a rally in the dollar ran out of steam, strong oil prices resurrected inflation worries, and a drop in U.S. stocks stirred doubt about the economic outlook.

Gold powered to a record above $1,160 an ounce on Monday after a rally in the dollar ran out of steam, strong oil prices resurrected inflation worries, and a drop in U.S. stocks stirred doubt about the economic outlook.

Gold rallied late Friday in the face of a stronger dollar and ended higher for a third straight week on investor sentiment amid inflation concerns and economic uncertainty.

Gold prices retreated on Thursday from the record high above $1,150 an ounce they reached in the previous session, reacting to a rise in the dollar as investors took profits in higher-yielding currencies.

Shares of Bank of America stock rose more than 3.5 percent Wednesday after billionaire hedge fund manager John Paulson told investors that he expects the stock price to almost double in the next two years.

Soros Fund Management, the hedge fund run by billionaire investor George Soros, increased its holdings in U.S. stocks to $6.2 billion from $4.2 billion and bought a stake in Ford Motor.

Gold futures rose to record high of $1,151 an ounce Wednesday, as stronger-than-expected U.S. consumer prices stirred inflation worries.

Frank DiPascali, swindler Bernard Madoff's right-hand man who admitted helping his boss run a decades-long multibillion dollar fraud, was moved from a New York jail but he remains in custody, law enforcement sources said on Tuesday.

Gold fell in Europe on Tuesday, after the previous day's rally to record highs, as the dollar recovered from a 15-month low, but analysts said the rising trend was still firmly in place.

Gold raced to a record high above $1,140 an ounce Monday, gaining 2 percent as a weakened dollar boosted funds' risk appetite for investments across the board.

Hedge fund billionaire John Paulson's firm took a stake in the bank, while cutting holdings in Bank of America and its interest in Goldman Sachs, according to a regulatory filing on Friday.

Two computer programmers provided technical support to falsify documents and trading records for swindler Bernard Madoff and took hush money to help keep the massive fraud going, U.S. authorities said.

Saudi Oil Minister Ali al-Naimi said on Friday the Kingdom's overall downstream investment drive will double its refining capacity at home and abroad by 2015.

Texas billionaire T. Boone Pickens has made headlines with his clean energy plan for America. But what you haven't heard is the 81-year-old's plan to stay mentally and physically fit.  Neuroscientists who have studied his brain say it appears to function like someone half his age. 

Hedge fund billionaire John Paulson raised his firm's stake in Cadbury on Wednesday and now holds 2.54 percent of the British confectioner, the subject of a hostile bid by U.S. food group Kraft.