Gold drops with dollar index higher

May 2, 2012 at 6:03 PM

NEW YORK, May 2 (UPI) -- Gold prices slid on the Comex division of the New York Mercantile Exchange Wednesday as the dollar index rose 0.43 percent to 79.16.

Gold, which moved higher only slightly Monday and Tuesday, backslid, giving up $8.40 to $1,654 per troy ounce. Silver shed 28 cents to close at $30.64 an ounce.

The euro fell to $1.3154 from Tuesday's $1.3158, while the dollar fell to 80.12 yen from Tuesday's 80.13 yen.

The British pound was $1.61999 from $1.6202. The dollar was at 7.7588 Hong Kong dollars from 7.7589.

The dollar rose to 0.9871 Canadian dollars from 0.9865. Against the Australian dollar, the greenback rose to $1.0324 from $1.0334.

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