Gold rose on Thursday as the dollar fell versus a basket of currencies, with rebounding stock markets and U.S. jobless figures showing a decline in continuing claims boosting appetite for assets seen as higher risk.

Dollar rises to 3-week high vs euro on stimulus hopes… Oil prices fail to hold gains above $48 a barrel…  Abu Dhabi Dec gold sales fall 40 pct month on month.

GMAC Files to Become a Bank; Unemployment Nears 26-Year High; Mogul Signals Interest in Circuit City; Banco do Brasil Buying Out Rival; Crude Continues Slide; JPMorgan Cuts 3,000 jobs; Stock Market Craters.

General Growth Properties Facing Bankruptcy; Macy’s Cut Capital Spending 45%; Oil Futures Dip; China Retail Sales Soar; Yum Restructures; AB Shareholders Approve InBev Merger

Toll Brothers 4Q Revenue Caves; Vodaphone Focuses on Cash; Tyco Doubles 4Q Net Income; StatOilHydro Buys Shale Gas from Chesapeake; Oil Hits 20-month Low; Sirius Posts Profit Loss Despite Increase in Revenue

Demand Drops Crude; Volkswagen Races Ahead; Yen’s Strength Sinks Stocks; Verizon Dials Up Gains; Sept. Home Sales Up; Wal-Mart Scales Back; Citi Rejects Goldman Merger

The Organization of Petroleum Exporting Countries (OPEC) Friday said it would cut oil production quotas by 1.5 million barrels a day in an attempt to put a floor under oil prices, which have plunged nearly 60% from their July record.

Once they started going long on oil it was fairly easy to perpetuate the run… all they have to do is buy at the ask price and oil just keeps going up and up.

Back when it was Esso, the Exxon Mobil Corp. (XOM) predecessor urged motorists to “put a tiger in your tank.” These days, consumers probably feel more like they’ve got a tiger by the tail. And they should, for their family budget is certainly getting mauled.

Crude oil prices have fallen following Bernanke’s utterance of the ‘R’ word at yesterday’s congressional hearing.

Concern that crude and fuel stockpiles are higher than average also weighed on crude prices. US gasoline stockpiles are above their five-year seasonal average.

Crude oil for May delivery fell by as much as $1.28 to $103.55 a barrel on the New York Mercantile Exchange in electronic trade. Yesterday crude oil jumped nearly $4 a barrel.