Smarting from criticism that it had turned a blind eye to loose budgets and an unsustainable fixed exchange rate, the Fund's staff were determined not to conclude yet another weak deal.

ECONOMIST: The IMF and Argentina

Approval for an expanded European bailout fund from Germany and modestly upbeat U.S. economic data set loose a rally on Wall Street Thursday, but with less than two hours left in the session stocks were back in the red.

FORBES: Germany's Green Light For Bigger EFSF Gives Market Short-Lived Tonic

Jeffrey Sherman, portfolio manager for commodities at investment firm DoubleLine, said his fund continues to hold precious metals as a hedge against the currency-eroding power of loose monetary policies.

WSJ: Gold Rally May Lose Steam