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Gold drops modestly

NEW YORK, June 13 (UPI) -- Gold futures fell modestly in New York Monday as equities on Wall Street closed flat and early morning gains evaporated.

On the Comex division of the New York Mercantile Exchange, gold shed $12.20 to $1,531.90 per troy ounce in an up and down day.

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Crude oil fell sharply, losing $2.28 to reach $97.91 per barrel, as concern over slowing demand outweighed the dollar's decline. The dollar index dropped 0.43 percent to 74.52.

The euro rose to $1.4415 from from Friday's $1.4348. Against the yen, the dollar fell to 80.24 yen from Friday's 80.30 yen.

The dollar was mixed in most Asia and weaker in Europe.

The dollar rose to 7.7862 Hong Kong dollars from 7.7841 HKD. Against the Indian rupee, the dollar rose to 44.825 rupees from 44.625 rupees.

Against the won, the dollar fell to 1,082.34 won from 1085.75 won.

In Europe, the British pound rose to $1.6375 from $1.623. The U.S. dollar fell to 0.9762 Canadian dollars from 0.9795 Canadian.

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