Gold Prices Climb Higher

Nov 3, 2011, 09:28 by R.E. Christian

Gold prices climbed Wednesday as the U.S. dollar index turned lower after two consecutive trading sessions of sharp gains.

The dollar index, which rose 1.92 percent Monday and 1.06 percent Tuesday, settled back, dropping 0.31 percent to 77.08.

On the Comex division of the New York Mercantile Exchange, gold found traction, gaining $26.20 to close at $1,738 per troy ounce. Silver added $1.54 to $34.86 per ounce.

West Texas Intermediate crude oil settled at $92.84 per barrel, up 65 cents.

The euro rose to $1.3751 from Tuesday's $1.37. Against the yen, the dollar fell to 78.06 yen from Tuesday's 78.138 yen.

The dollar was mixed in Asia and mostly lower in Europe.

The British pound rose to $1.5951 from Tuesday's 1.5948. The U.S. dollar was 7.7697 Hong Kong dollars from 7.7711 HKD.

The U.S. standard fell to 1.0141 Canadian dollars from 1.0201 Canadian. The Australian dollar rose to $1.0345 from $1.0329.

Source: UPI