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Dec. 23, 2011 / 5:07 PM

Gold slips, dollar edges up

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NEW YORK, Dec. 23 (UPI) -- U.S. new home sales data sent gold to a seven-month high Friday but the surge was short-lived, sending prices to less than $1,605 per troy ounce.

Gold closed $4.20 lower at $1,604.70 on the Comex division of the New York Mercantile Exchange while silver gained 4.5 cents to close at $29.046.

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The dollar index added 0.1 percent to 79.99.

The euro was virtually flat, rising to $1.3051 compared with Thursday's $1.305. Against the yen, the dollar fell to 78.075 yen from Thursday's 78.17 yen.

The British pound was $1.5591, up from Thursday's $1.5677. Against the Hong Kong dollar, the U.S. standard was 7.7769 from Thursday's 7.7824 HKD.

The dollar was 97.991 cents against the Canadian dollar from $1.0207 Thursday. The Australian dollar was $1.0137 from Thursday's $1.013.

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