Gold Rallied On Speculative Buying

Gold in New York recovered from a prior six-week low to end higher Wednesday, lifted by a flurry of dealer buying and speculative short covering after two days of steep declines in the metals, traders said.

Benchmark December delivery gold on the New York Mercantile Exchange's COMEX division climbed $4, or 0.9 percent, to close at $464.60 an ounce, after patrolling a range from $460.20 to $465.50.