Gold pushes a touch higher

Nov. 16, 2012 at 6:18 PM

NEW YORK, Nov. 16 (UPI) -- Gold prices rose higher Friday, although gains were muted as equities were suddenly attractive after a prolonged slump.

Stock markets made headway for only the second time since the Nov. 6 election. Investors were encouraged that the so-called "fiscal cliff" could be avoided as budget talks in Washington were described as constructive.

Gold added 90 cents or 0.05 percent to close at $1,714.70 per troy ounce on the Comex division of the New York Mercantile Exchange.

Silver closed lower, giving up 30 cents to $32.37 per ounce, off 0.93 percent.

The euro fell to $1.2743 from Thursday's $1.2781. Against the yen, the dollar rose to 81.31 from 81.16 yen.

On the International Exchange, the dollar index, a pro-rated measure of the dollar against six major currencies, rose 0.21 percent to 81.19.

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