Gold rises, silver falls
Posted by | Posted in Business News | Posted on 01-05-2011
NEW YORK, May 2 (UPI) — Gold closed slightly up on the Comex division of the New York Mercantile Exchange Monday, gaining 70 cents to $1,557.10 per troy ounce as the dollar wavered.
Silver prices, meanwhile, fell more than 5 percent Monday, closing the session at $46.08, off $2.52.
Gold traded as high as $1,577.40 during the session, an intra-day record, getting a boost from a weak dollar and safe-haven bidding based on fears of retaliation attacks for the death of al-Qaida leader Osama bin Laden, MarketWatch.com reported.
The euro was $1.4816, up from Friday’s $1.4807. Against the yen, the dollar was 81.26 yen, compared to Friday’s 81.2203 yen.
The dollar fell to 44.27 Indian rupees from 44.34. Against the Hong King dollar, the U.S. dollar fell to 7.7658 from 7.7660.
The Australian dollar fell to $1.0936 from $1.0968.
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