UPDATE 7-Gold down slightly; pares losses after early slide

Newswire

(Updates to midafternoon in New York) By Zach Howard NEW YORK, May 22 (Reuters) - Gold tumbled to its lowest level in nearly four weeks, but then pared losses in late U.S. trade on Monday after bargain hunters reentered at cheaper levels. Gold prices fell 3.5 percent early as a stronger dollar prompted selling. But late in New York, spot gold was at $655.60/656.40, down only slightly from $659.20/660.00 late on Friday. Gold reached a high of $661.25 an ounce before falling as low as ...

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