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Dollar slides, giving gold a boost

Fri, 11/12/2010 - 10:28 by Prince damin

New York -- Gold prices gained $4 to $1,408.30 per troy ounce in New York Thursday as equities fell on Wall Street and the dollar fell broadly.

Crude oil prices on the New York Mercantile Exchange held steady, closing at $87.71 per barrel, down 20 cents from a morning settlement.

The euro fell to $1.3664 from Wednesday's $1.3779. Against the yen, the dollar rose to 82.50 yen from Wednesday's 82.32 yen.

Against the Hong Kong dollar, the U.S. standard dropped to 7.7511 Hong Kong dollars from 7.7514. Against the Singapore dollar, the greenback fell from 1.2898 to 1.2891.

The British pound rose to 1.6117 from 1.6114. The Australia dollar fell to 0.997 from 0.9985.

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

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