The dollar closed slightly higher on most money markets yesterday after a late rally spurred by market realization that the cutoff of oil from Iran will hurt Europe more than the United States.

Gold closed at $244.75 an ounce in London, up from Friday's close of $243, but down from the opening of $249. In Zurich, gold closed lower at $244.25 compared with $247 Friday.

Markets were closed in Tokyo for a national holiday, and New York trading was curtailed by the Lincoln's Birthday bank holiday.

Paris dealers said there was no obvious Bank of France support for the dollar, but they said they detected some intervention by other European central banks.

In Zurich, the dollar was nudged upward to 1.66705 Swiss francs from 1.66; in Frankfurt, to 1.8528 West German marks from 1.8445; in Paris, to 4.25375 French francs from 4.25; in Brussels, to 29.6650 Belgian francs from 29.5750. and in Amsterdam to 2.002 Dutch guilders from 1.9950.

In London, the pound rose to $2.004 from $2.002, and the dollar lost ground in Milan, where it closed at 834.80 Italian lira from 836.20 Friday.