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Gold returns to losing streak

Jan. 11, 2013 at 5:47 PM

NEW YORK, Jan. 11 (UPI) -- The price of gold fell Friday in New York, falling after a one-day reprieve from a five-day losing streak.

Gold prices dropped for the sixth session out of the past seven, losing most of Thursday's gains as it gave up $15.70 Friday and settled at $1,662.30 per troy ounce on the Comex division of the New York Mercantile Exchange.

Silver lost 48 cents, 2 cents more than Thursday's advance, settling at $30.44 per ounce.

The dollar index, which measures the U.S. dollar against six other major currencies on a pro-rated scale, declined 0.3 percent to 79.55 on the International Exchange.

Against the dollar, the euro rose to $1.3343 from Thursday's $1.3269. The dollar was higher at 89.19 yen from 88.78 yen.

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