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Jan. 31, 2011 / 5:10 PM

Gold left out of gains Monday

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NEW YORK, Jan. 31 (UPI) -- Gold prices slid Monday, as investors turned toward equity markets, looking for bargains after Friday's sell off.

U.S. markets suffered their biggest losses in two months Friday as oil prices soared due to concerns about civil unrest in Egypt. Crude oil prices continued to rise Monday and equities rebounded, but gold prices failed to follow.

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On the Comex division of the New York Mercantile Exchange, gold shed $7.20 to $1,333.60 per troy ounce while March delivery crude oil added $2.74 to $92.09 per barrel.

The euro rose to $1.3685 from Friday's $1.3609. Against the yen, the dollar fell to 82.06 yen from Friday's 82.13 yen.

The dollar was mixed in Asia and lower across most of Europe. The dollar fell to 45.80 rupee from 45.914 rupee. The U.S. dollar rose to 7.7966 Hong Kong dollar from 7.7885 HKD. The dollar rose to 1,119.25 South Korean won from 1,115.95 won.

The U.S. standard also lost ground against the Canadian dollar, dropping to $1.0007 from Friday's $1.001.

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