NY gold snaps back from lows on short covering

Newswire

NEW YORK, July 27 (Reuters) - Gold futures in New York bounced from a fresh one-week low Wednesday morning, powered by a wave of speculative buying after the euro rebounded from a near 14-month low against the dollar, traders said. At the New York Mercantile Exchange's COMEX division, August delivery gold was up 50 cents at $424 an ounce by 9:49 a.m. EDT, dealing between $421.80, its lowest price since last Wednesday, and $424.80. The dollar was the primary driver for gold, dealers said, ...

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