Gold slips on dollar rise, but oil supports

Gold drifted lower on Tuesday, erasing overnight gains, as the dollar bounced off a one-month low, but traders kept an eye on rising oil prices following supply disruptions in Nigeria.

Other precious metals followed suit, with spot silver edging down and spot platinum paring early gains.

Spot gold fell to $922.30/923.30 an ounce at 1025 GMT, from an earlier intra-day peak of $930.50, and down from $925.20/926.60 in New York late on Friday.

Markets in Britain and the United States were closed for public holidays on Monday.

Read Full Article from Reuters UK

- Posted: 2008-05-27 08:40:17

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