Run-up in gold prices put on pause as euro gathers some strength; energy prices rise
By APWednesday, June 2, 2010
Gold prices dip as euro rises slightly
NEW YORK — Gold is taking a pause from its recent run-up as the euro strengthens.
Investors are pulling money out of gold Wednesday as the euro bounces off of a four-year low. Gold has been trading in the opposite direction of the euro for about a month.
Gold fell $4.30 to settle at at $1,222.60 an ounce. Other metals are following gold lower.
Energy prices are rising following some upbeat signs about the economy. Oil is following stocks higher after the National Association of Realtor’s reported a bigger-than-forecast jump in pending home sales.
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