Dollar Turns Mixed; Gold Rebounds

The dollar turned in a mixed performance in erratic trading Tuesday, finishing below the highs of the day. Gold prices, which fell sharply late Monday in the United States, began Tuesday’s session by falling in Hong Kong and Europe before recovering some of the lost ground late in the day as the dollar gave up some of its gains.

Republic National Bank of New York said gold bullion was bid at $317.50 an ounce, up $4.50 from the late bid Monday.

The dollar staged a brief, sharp rally midway through the trading day in a wave of short covering that followed a report by the Commerce Department on Tuesday revising downward growth in the gross national product for the first quarter.