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Gold falls on declining euro

July 12, 2012 at 6:28 PM   |   Comments

NEW YORK, July 12 (UPI) -- Gold fell Thursday on the declining euro and a lack of optimism the Federal Reserve plans to increase stimulus in the near future, analysts said.

Gold for August delivery fell $10.40, or 0.7 percent, to $1,565.30 a troy ounce on the Comex division of the New York Mercantile Exchange.

The euro fell below $1.22 Thursday, recovering slightly to $1.2206 late in the day. Against the yen, the dollar was 79.28 yen from 79.31 yen.

The British pound was $1.5433 from $1.5428.

The Intercontinental Exchange Dollar Index was up 0.18 percent to 83.62.

© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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