Dollar Up; Gold Mixed

The U.S. dollar rose Friday against most major currencies in active trading in Europe. Gold prices were mixed.

Traders were reassessing the implications of the controversy over U.S. arms sales to Iran, according to dealers in Europe. Speculation that the controversy would damage the Reagan administration’s ability to manage the economy had driven the dollar lower in recent days.

In Tokyo, the dollar rose to 162.80 Japanese yen, up from 162.20 yen late Thursday.

Later in London, bullion rose to $389 a troy ounce from $387.50 late Thursday. In Zurich, gold fell to $388 an ounce from $390 late Thursday.