Gold Price Rallies on Short Covering, Bargain Hunting, Some Safe-Haven Demand

New York (Jun 15)  Gold prices have pushed above unchanged and are holding moderate gains in late-morning trading Monday. Some bargain hunting in the cash market and short covering in the futures market are featured, along with some mild safe-haven demand amid the Greece-EU debt talks breakdown. August gold futures were last up $10.00 an ounce at $1,189.00.

Spot silver rises 22 cents to $16.17, while platinum drops $6 to $1,089 and palladium edge down $1 to $735 on lackluster volume.

Source: KitcoNews