facebook
twitter
rss
account
search
search
 

Gold loses its holiday boost

Jan. 4, 2011 at 5:48 PM   |   Comments

NEW YORK, Jan. 4 (UPI) -- Gold prices fell sharply Tuesday, losing $42.40 per troy ounce or nearly 3 percent, as the market shifted with the return of traders from holiday vacations.

Trading volumes rose as a returning volume of traders back from their Christmas breaks undermined the gains made when trading was light, The Wall Street Journal reported.

Gold prices dropped to $1,380.50 per troy ounce.

February deliver crude oil prices shed $2.36 to $89.19 per barrel, as the dollar index rose 0.38 percent.

The dollar on Monday the dollar gained ground against the euro, the pound and the yen with the euro falling to $1.3305 from Monday's $1.3351. Against the yen, the dollar rose to 82.05 yen from Friday's 81.74 yen.

Against the Hong Kong dollar, the U.S. dollar fell to 7.7682 HKD from 7.7691 HKD. The dollar fell to 1,124 South Korean won from 1,124.61 won.

Against the Canadian dollar, the greenback rose to 0.9983 from 0.9937.

© 2011 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Verizon backing off plan to slow unlimited data Verizon backing off plan to slow unlimited data
2
BAE Systems wins naval support contract BAE Systems wins naval support contract
3
Huntington Ingalls Industries cuts steel for new destroyer Huntington Ingalls Industries cuts steel for new destroyer
4
Pepsi launches stevia-sweetened soda Pepsi launches stevia-sweetened soda
5
Coca-Cola company, other soda makers, pledge to cut calories Coca-Cola company, other soda makers, pledge to cut calories
Trending News
x
Feedback