Business News

Gold slides under $1,700

Published: Dec. 13, 2012 at 5:35 PM

NEW YORK, Dec. 13 (UPI) -- Gold futures closed lower on the Comex division of the New York Mercantile Exchange, dropping $19.30 or 1.12 percent to $1,698.60 per troy ounce.

Traders went for profits Thursday after the U.S. Federal Reserve announced they would extend asset purchases into 2013.

Silver for March delivery was down 1.48 percent, or $1.18, to $32.61 an ounce.

The euro rose to $1.3075 from Wednesday's $1.3074. The dollar rose to 83.66 yen from 83.27 yen.

The Australian dollar fell to $1.0521 from $1.0554. The U.S. dollar dropped to 0.9844 Canadian from 0.9845 Canadian. The British pound fell to $1.6112 from $1.6149.

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