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July 17, 2012 / 5:30 PM

Gold slides modestly

NEW YORK, July 17 (UPI) -- Gold futures dropped slightly Tuesday, falling for a second consecutive trading session, despite drops in the dollar index.

The dollar index, a pro-rated measure of the greenback's value compared with six major currencies, fell 0.24 percent Monday and another 0.16 percent Tuesday to 83.01 on the International Exchange.

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Gold for August delivery shed $9.30 or 0.58 percent to $1,582.30 per troy ounce on the Comex division of the New York Mercantile Exchange.

September silver futures shed 5 cents, or 0.09 percent to $27.26 an ounce.

The euro rose to $1.229 from Monday's $1.2272. Against the yen, the dollar was higher at 79.08 yen compared with Monday's 78.86 yen.

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