Gold drops for second day after upbeat retail-sales report

Gold prices slid for a second session on Thursday as a strong report on retail sales hit haven demand and helped U.S stocks.

Gold for February delivery GCG5, -0.16% fell $3.80, or 0.3%, to settle at $1,225.60 an ounce. March silver SIH5, -0.04% dropped 8 cents, or 0.4%, to settle at $17.11 an ounce.

Current Market Update

Here are the latest trading levels for Asia's major stock markets: 

Tokyo (Nikkei Average) up 1.4% 

 Hong Kong (Hang Seng Index) up 0.1% (at break) 

 Shanghai (Shanghai Composite Index) flat (at break) 

 Sydney (S&P/ASX 200) down 0.1% 

 Seoul (Kospi) up 0.3% 

 Mumbai (Sensex) up 0.2% 

 Taipei (Taiex) up 0.4%

Asian shares mostly higher after US retail data

Asian markets mostly rose on Friday at the end of a painful week for global shares, as a strong report on US retail sales lifted spirits and Wall Street, while the dollar fought back against the yen's recent revival.

Oil prices continued to tumble after New York's main contract sank through the US$60-a-barrel mark in US trade for the first time in more than five years.

Tokyo rose 1.27 per cent on the back of the yen's retreat, while Seoul added 0.32 per cent, Shanghai edged up 0.12 per cent and Hong Kong was 0.24 per cent higher but Sydney eased 0.38 per cent.

Global markets have been buffeted by profit-taking this week, while Shanghai has swung wildly after racking up more than 20 per cent since the middle of November.

KLSE Malaysia Opening Market Update

MALAYSIA share prices opened higher on Friday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index up 2.81 points to 1747.38.

Volume was 66.02 million lots worth RM45.06 million.

Losers outnumbered gainers 119 to 103.

Market Closing Update

MALAYSIAN shares ended lower on Thursday with the Kuala Lumpur Composite Index slipping 20.95 points to close at 1,744.57.

Some 1.27 billion lots, valued at RM1.50 billion were traded. Gainers numbered 178 while losers numbered 626.