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Dollar pulls higher, gold lower Tuesday

Wed, 10/27/2010 - 09:43 by Prince damin

New York -- The U.S. dollar snapped a downward trend Tuesday, putting pressure on the price of gold and oil, while the British pound made headway, climbing 1 percent.

Mixed corporate reports rattled equity markets, but the dollar index jumped 0.77 percent. The British pound made gains after the Office of National Statistics said the gross domestic product rose 0.8 in the third quarter.

Gold prices slumped on the Comex board at the New York Mercantile Exchange, dropping to $1,338.60 per troy ounce, down 0.02 percent. Crude oil prices closed at $82.52 per barrel from an intraday high of $82.88.

Against the Australian dollar, the U.S. standard rose to 0.9848 from Monday's 0.9903. The dollar rose to 7.7586 Hong Kong dollars from 7.7579 and to 81.45 yen from Monday's 80.81 yen.

Against the Canadian dollar, the U.S. dollar rose to 1.0239 from 1.0204. Against the euro, the dollar rose to $1.3854 from $1.397.

Copyright 2010 United Press International, Inc. (UPI).

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