Gold gains checked by stock rally

June 6, 2012 at 5:37 PM
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NEW YORK, June 6 (UPI) -- Gold futures rose modestly Wednesday with gains held in check by a strong day in equity markets.

The Dow Jones industrial average posting its largest advance of the year, as investors ignored gold's role as a safe haven in favor of riskier bets on Wall Street.

Gold added $4 to $1,620.90 per troy ounce on the Comex division of the New York Mercantile Exchange. Silver gained 96 cents to $29.37 per troy ounce, as the dollar index fell 0.72 percent to 82.19 on the International Exchange.

The euro rose to $1,2565 from Tuesday's $1.2453. Against the yen, the dollar rose to 79.24 yen from Monday's 78.75 yen.

The British pound was $1.5489 from $1.5383. The dollar was 1.0279 Canadian dollars from 1.0377 Canadian.

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