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U.S. markets recover from steep losses
NEW YORK, Feb. 28 (UPI) -- The price of gold rose modestly in New York Tuesday with worries over debt issues in Europe still making headlines.
The European Central Bank said it would keep funds available for banks after a major credit rating agency said Greece was in "selective default."
Equities on Wall Street closed higher, but without enough momentum to draw investors away from gold and silver.
On the Comex division of the New York Mercantile Exchange, gold added $13.50 to reach $1,788.40 per troy ounce. Silver added $1.60 to $36.65 per ounce.
West Texas Intermediate crude oil shed $2.06, falling to $106.50 per barrel.
The dollar was mixed in Asia, mostly higher in Europe with the dollar index off 0.37 percent to 78.23.
The euro rose to $1.3463 from Monday's $1.3398. Against the yen, the dollar fell to 80.47 yen from 80.61 yen.
The British pound held steady at $1.5901. The dollar fell to 0.9951 Canadian dollars from 0.9952. The Australian dollar rose to $1.0773 from $1.0767.
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It is a whole new ball of wax in Europe these days.
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