Gold drops after rally as dollar rises

- May 4th, 2010

On Tuesday, Gold was driven lower by a stronger U.S. dollar after hitting its highest price this year yesterday.

On Tuesday, Gold was driven lower by a stronger U.S. dollar after hitting its highest price this year yesterday.

The press release is quoted as saying:

Spot gold XAU= was quoted at $1,179.00 an ounce versus Monday’s notional close of $1,183.30. Intraday trading on Monday saw spot bullion climb to a 2010 high of $1,187.41 an ounce. U.S. June gold futures GCM0 dipped to $1,179.60 an ounce against a close of $1,183.30.

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