Gold prices fall on stronger dollar

July 10, 2012 at 8:10 PM

NEW YORK, July 10 (UPI) -- Gold futures fell Tuesday on the New York Mercantile Exchange as the dollar strengthened, analysts said.

August gold fell $9.30, or 0.6 percent, to $1,579.80 on the Comex division of the New York Mercantile Exchange.

Silver prices also dropped, with September silver at $26.88, down 56 cents.

The euro was $1.2257 late Tuesday from $1.2249 late Monday. Against the yen, the dollar fell to 79.32 yen from 79.43 yen.

The British pound was $1.5517 from $1.5527.

The Intercontinental Exchange Dollar Index was slightly higher at 83.36 from Monday's 83.35.

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