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UPDATE 4-Gold swings lower as dollar firms, oil falls

Tue Jul 8, 2008 8:48pm IST
 
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* Gold slides more than 1 pct as oil slips $6 a barrel

* Dollar gains as Bernanke reassures financial markets

* Platinum touches 5-week low on demand fears

(Recasts, adds comment, updates prices)

By Jan Harvey

LONDON, July 8 (Reuters) - Gold slid more than 1 percent on Tuesday as oil prices shed more than $6 a barrel and as the dollar firmed after comments from Federal Reserve chairman Ben Bernanke.

Spot gold <XAU=> fell to $914.20/915.20 an ounce at 1505 GMT from $925.15/926.35 an ounce late in New York on Monday. Earlier it touched a session low of $912.50.

The precious metal edged up a touch earlier in the session as the financial markets wilted, spurring buying of the precious metal as an alternative investment.   Continued...

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Commodities

Commodity Last Pct Chg Trade Date/Time
Oil 77.85 -7.85% 10/11 03:04 IST
Gold 856.6 -3.49% 10/10 05:30 IST