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Posted AT 4:51 PM EDT on 14/05/08

Physical buyers emerge as gold prices slip

FRANK TANG AND LEWA PARDOMUAN

Reuters

NEW YORK, LONDON — Gold finished slightly lower Wednesday after rebounding from a one-week trough when the U.S. dollar dipped against the euro and amid demand for gold from jewellers in Asia and the Middle East. Spot gold hit a session low of $859.30 (U.S.) an ounce, its lowest level since May 5, and was last at $865.05/866.25 by New York's last quote at 2:15 p.m. EDT, steady from $866.55/867.95 late in New York on Tuesday.

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