U.S. gold falls 3 pct to $914 on dollar rise, crude drop
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.
© Thomson Reuters 2009 All rights reserved
Dubai Debt Fears
Banks outside the Gulf played down their exposure to Dubai debt, after fears the emirate could default and even derail world economic recovery prompted a sell-off in global markets. Full Article | Slideshow
One Year Later
Mumbai held tearful memorials and police staged a show of strength as it marked the first anniversary of militant raids that killed 166 people and pushed up tensions with Pakistan. Slideshow | Full Coverage
