Gold Hovers Above $1,600 as Dollar Gains Bite

Published March 19, 2013

| MarketWatch Pulse

MADRID – Gold prices were hovering above $1,600 an ounce on Tuesday, with an attempt at higher ground frustrated by the dollar, which was gaining ahead of a vote out of Cyprus on a controversial bailout and tax levy. The dollar also rose in wake of improved U.S. housing data. Gold prices for April delivery fell $2.30 to $1,602 an ounce, while silver for May delivery fell 12 cents, or 0.5%, to $28.75 an ounce. The dollar index , measured by a trade-weighed basket of currencies,rose to 82.732 from from 82.639 in late North American trading on Monday.

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http://www.foxbusiness.com/markets/2013/03/19/gold-hovers-above-1600-as-dollar-gains-bite/