Gold Prices Slide As Dollar Bounces Back

NEW YORK - Gold prices tumbled Wednesday as the U.S. dollar made sharp gains against the euro a day after bottoming at an all-time low.

In other commodity markets, energy prices strengthened, while industrial metals prices fell. Agriculture futures oscillated in a narrow range.

The weak dollar has been a boon for the commodities markets in general, as a falling dollar increases the lure to foreign buyers. But gold's inverse relationship to the dollar is especially direct. Investors often turn to gold as a safe haven to lessen exposure to a flailing currency.

The 13-nation euro bought $1.3851 on Tuesday - an all-time low for the U.S. currency. But as the dollar …