facebook
twitter
rss
account
search
search
 

Gold gains with dollar flat

Nov. 21, 2012 at 5:51 PM   |   Comments

NEW YORK, Nov. 21 (UPI) -- Gold prices rose Wednesday as the Reserve Bank of India banned banks from loans earmarked for gold purchases.

The bank said the ban was meant to discourage speculative gold purchases. Borrowing could continue for gold purchases for jewelers, however, the banks said.

Gold added $4.90 or 0.28 percent to reach $1,728.50 per troy ounce on the Comex division of the New York Mercantile Exchange, rising for the second consecutive day.

Silver nudged higher, closing up 43 cents or 1.3 percent to $33.45 per ounce.

The dollar index was flat. The euro rose to $1.283 from Tuesday's $1.2818. Against the yen, the dollar rose to 82.52 yen from 81.69 yen.

© 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.
Most Popular
1
Tesla could face sales ban in Michigan Tesla could face sales ban in Michigan
2
Early completion of refit of Italian aircraft carrier Early completion of refit of Italian aircraft carrier
3
Russia doesn't fear Azeri gas, scholar says Russia doesn't fear Azeri gas, scholar says
4
Europe must drop the euro, Germany abandon mercantilism Europe must drop the euro, Germany abandon mercantilism
5
Brent losing steam, WTI showing gains Brent losing steam, WTI showing gains
Trending News
Around the Web
x
Feedback