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Gold gains slightly

July 27, 2012 at 5:18 PM   |   Comments

NEW YORK, July 27 (UPI) -- Gold prices moved higher Friday on the Comex division of the New York Mercantile Exchange as equities rose for the second consecutive trading session.

Gold added $7.30 and reached $1,627.10 per troy ounce. Silver ended at $27.69 per troy ounce, up 24 cents.

Markets moved higher on the pledge by European Central Bank President Mario Draghi to do "whatever it takes," to support the euro.

On Friday, the U.S. Commerce Department said the U.S. gross domestic product rose 1.5 percent in the second quarter. That was a slowdown from the first quarter, when the economy grew 2 percent but it was higher than the 1.3 percent consensus forecast.

The euro rose to $1.22322 from Thursday's $1.2283. Against the yen, the dollar rose to 78.46 yen from 78.22 yen.

On the International Exchange, the dollar index, a prorated measure of the dollar compared with six other major currencies, fell 0.25 percent to 82.61.

The British pound rose to $1.5746 from $1.5687. The dollar fell to 1.0031 Canadian from 1.0099 Canadian.

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