June Gold Hits $600 an Ounce [View All]

[NVMojo]

June Gold Hits $600 an Ounce NEW YORK (AP) -

Fund buying enabled the New York precious-metals to close sharply higher Thursday, with gold hitting its strongest level in a quarter century.

Traders cited generally strong sentiment and chart-based momentum in gold and silver, with stronger crude oil and recent dollar weakness also playing a role.

The most-active June gold contract settled up $7.20 to $599.70 an ounce on the New York Mercantile Exchange. It peaked at $601.90 overnight, the first time such gold futures have been over $600 since early 1981.

The nearby April contract settled up $7.30 to $595.20 an ounce. This remained below the psychological $600 level, however, peaking at $595.60.

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