US gold futures end higher Wednesday as investors increase buying of bullion after crude oil turns sharply higher and the dollar extends losses.
GOLD: The August gold contract on COMEX division of New York Mercantile Exchange settles up $6.60 at $893.50 an ounce. Ranged $882.50 to $896.50. COMEX gold futures hit a high of $898.10 in afternoon electronic trade on the back of an oil rally.
Gold accelerates gains as crude oil reverses initial losses. US crude futures up more than $2 at nearly $137 a barrel. Gold trading in lock steps with the energies market, and dollar does not seem to be much of a factor - Scott Meyers, senior analyst at Pioneer Futures.
Spot gold at $890.75/891.95 by late trade in New York, compared with $884.20/885.40 in late Tuesday trade. The London afternoon gold fix set at $887.50.
PLATINUM: July ends up $27.60, or 1.3 percent, at $2,091.90 an ounce. Spot platinum at $2,080.50/2,100.50.
PALLADIUM: September palladium finishes up $7.95, or 1.7 percent, at $471.80 an ounce. Spot palladium was quoted at $466.00/474.00.
SILVER: July silver futures track gold's strength, closes up 26.5 cents, or 1.6 percent, at $17.340 an ounce. Ranged from $16.985 to $17.510 per ounce. Spot silver at $17.33/17.43 an ounce from $17.05/17.13 late Tuesday.
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