Gold Rallies Modestly on Short Covering, Bargain Hunting

Gold futures are seeing an upside corrective bounce in midday trading Wednesday. Short covering in the futures market and bargain hunting in the spot market are featured, to lift prices up from nine-month lows scored this week. The sell-off in the U.S. stock market Wednesday is also adding some buying interest to the gold and silver markets. December Comex gold was last up $8.00 an ounce at $1,219.60.

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