Gold, sliver, dropped Wednesday

Gold and silver dropped on the New York Mercantile Exchange Wednesday as equities soared on Wall Street for the second consecutive trading session. Gold prices, up more than 2 percent Monday and Tuesday, fell 1 percent Wednesday, losing $16 to $1,597.40 per troy ounce. Silver shed 37 cents to $29.04 per ounce, giving up what it gained on Tuesday. The dollar index was off 0.38 percent to 81.54 on the International Exchange. Against the dollar the euro rose to $1.3134 from Tuesday's $1.3061. Against the yen, the dollar was higher at 92.25 yen from 91.98 yen. The British pound rose to $1.5161 from $1.5125. The dollar fell to 1.0231 Canadian dollars from 1.0262 Canadian.