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U.S. gold falls 3 pct to $914 on dollar rise, crude drop

Fri Apr 18, 2008 6:18pm IST
 
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NEW YORK (Reuters) - U.S. gold futures sank 3 percent on Friday, pummeled by a combination of a dollar rise, a crude oil drop and an upbeat outlook for global stock markets, dealers said.

At 8:31 a.m. EDT (1231 GMT), the active gold contract for June delivery on the COMEX division of the New York Mercantile Exchange was down $24.60 or 2.6 percent at $918.30 an ounce. Just minutes earlier, it had bottomed at $914 which marked its lowest level since April 9.

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Russian Finance Minister Alexey Kudrin poses with his G20 colleagues and central bank leaders during the family photo at the G20 Finance Ministers meeting at a hotel in St. Andrews, Scotland. REUTERS/POOL New
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