Gold stable Monday, dropping slightly

Nov. 12, 2012 at 7:22 PM

NEW YORK, Nov. 12 (UPI) -- Gold slipped Monday, giving up $4.30 to settle at $1,726.60 a troy ounce on the Comex division of the New York Mercantile Exchange.

Silver gave up 20 cents to $32.32 per ounce.

Gold futures took a rest from a two-week build up that continued past the national election, as the market was bullish on the re-election victory by President Barack Obama.

The dollar was flat Monday, keeping the currency exchange influence at bay. Equities on Wall Street were as flat as an ice rink, taking away any influence there, as well.

It was Veterans Day, so there were no government reports to tip the market one way or another.

The euro fell to $1.2706 from Friday's $1.2711. Against the yen, the dollar was 79.56 from 79.40 yen.

The dollar was mixed in Asia and broadly higher in Europe. The British pound fell to $1.5874 from $1.5877, while the U.S. dollar rose to 1 Canadian dollar even from 0.9998.

The Australian dollar fell to $1.0425 from $1.0428. The rose to 54.965 Indian rupee and dropped to 7.7505 Hong Kong dollars.

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