Gold slides slightly

June 4, 2012 at 4:25 PM
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NEW YORK, June 4 (UPI) -- Gold futures held steady Monday after climbing almost 4 percent in the previous trading session on Wall Street.

Gold added $61.30 Friday, but gave up 40 cents Monday to close at $1,621.70 per troy ounce on the Comex division of the New York Mercantile Exchange.

Investors are seeking a safe haven from slumping equity markets. U.S. markets were slightly lower Monday, but that did not set up frenetic gold-buying reaction that took place with the Dow Jones industrial average's performance Friday, when it gave up 274.88 points to reach, at that point, a low for the year.

Silver on Monday lost 24 cents to $28.26 per troy ounce.

The dollar index lost 0.3 percent to 82.55 as the euro extended gains to a second session, rising to $1.2492 from Friday's $1.2435.

Against the yen, the dollar reached 78.36 yen from Friday's 77.99 yen.

The British pound was $1.5377 from $1.5362. The dollar was 1.0399 Canadian dollars from 1.0411 Canadian.

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