Equities give up room for gold to rise

May 4, 2012 at 5:35 PM

NEW YORK, May 4 (UPI) -- Gold prices moved higher on the Comex division of the New York Mercantile Exchange Friday as equities dropped for the second consecutive trading session.

Gold gained $8 to $1,642.80 per troy ounce. Silver added 38 cents to $30.39 per ounce.

The dollar index rose 0.38 percent to 70.51, as the dollar gained against all major currencies of Europe and most of Asia.

The euro fell to $1.3085 from Thursday's $1.3152, while the dollar dropped to 79.84 yen from Thursday's 80.17 yen.

The British pound fell to $1.6147 from $1.6178. The dollar rose to 0.9959 Canadian dollars from 0.9886 Canadian.

The dollar jumped ahead of the Hong Kong dollar, trading at 7.7608 from 7.7594. The Australian dollar fell to $1.0182 from $1.0264.

Related UPI Stories
Latest Headlines
Trending Stories
N.H. primary polls open: Kasich, Sanders get early leads
5 Reasons why Denver Broncos won't be repeat champions
U.N. report: Syria's Assad guilty of 'inhuman' crimes, gruesome torture, deaths
On heels of E. coli outbreaks, Chipotle spending millions for new ingredient safeguards
Hugh Jackman shows photo of his latest skin cancer treatment