Gold drops Wednesday

Jan. 30, 2013 at 6:43 PM

NEW YORK, Jan. 30 (UPI) -- Gold prices moved lower on the Comex division of the New York Mercantile Exchange Wednesday with equities lower on Wall Street.

Equities dropped after the Commerce Department said the gross domestic product contracted 0.1 percent in the fourth quarter of 2012. But losses were muted by a positive jobs report from Automatic Data processing.

The U.S. Federal Reserve announced it would maintain its monetary policy, noting the recovery "paused in recent months."

NYMEX gold gave up 0.29 percent or $4.80 to $1,676.80 per troy ounce. NYMEX silver lost 0.61 percent or 20 cents to $31.98 per ounce.

Against the dollar, the euro rose to $1.3566 from Tuesday's $1.3492. The dollar rose to 91.08 yen from Tuesday's 90.73 yen.

Like Us on Facebook for more stories from UPI.com  
Latest Headlines
Top Stories
First U.S.-made Kalashnikov AK-47s now being sold
More than $1B in new orders for Saab
Australian Air Force receives first C-27J transport
Judge throws out GM shareholder ignition-switch lawsuit
Sea-based radar market tipped to grow over 10 years