Gold

Billionaire investors George Soros and John Paulson have upped their stakes in the largest exchange-traded fund backed by gold as the commodity posted the largest quarterly drop since 2008.

Global mining giant Rio Tinto has suffered a 22% drop in profits for the first half of 2012 as weak commodity prices hit growth.

Managers of the £276m Ruffer Investment Company have increased their exposure to gold on hopes global central banks will act soon to collectively expand their balance sheets.

OLYMPICS

Resources funds are among the largest losers of the year so far as sharp falls in the price of oil and other commodities took their toll.

Victims of a £1m boiler room scam are to be paid back a fraction of their losses after the Financial Services Authority (FSA) secured a court order against the fraudsters behind it.

Gold could be the best asset class to own in 2013 if inflation starts to pick up following major stimulus programmes from central banks, Fidelity's global strategist Andrew Wells has said.

ON GOLD

Gold exchange-traded commodities (ETCs) saw $500m of inflows in the past three weeks, as investors flocked to the precious metal as the eurozone crisis worsened.

Global equity indices surged higher after China cut interest rates for the first time in four years in a bid to support growth and combat economic slowdown.