NY gold rallies to 8-day high on fund buying

Newswire

NEW YORK, June 21 (Reuters) - Gold futures in New York rallied and closed up 1.8 percent on Wednesday, breaking above an initial resistance area on a flurry of fund buying driven by a weakening dollar and stronger oil price. In other precious metals, silver climbed 1.5 percent, riding gold's coattails higher, and platinum group metals also advanced. Before gold took off, the market had been trading choppily although it was stuck in a range below $590 an ounce, where it had languished for ...

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