CHICAGO, Sept. 27 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange rallied to a seven- month high on Thursday, charging back from two-week lows as weaker prices enticed bargain hunters.
The most active gold contract for December delivery rose 26.9 dollars, or 1.53 percent, to settle at 1,780.5 dollars per ounce.
According to market analysts, nervousness about the euro zone has kept gold prices well supported in recent sessions, and the price slump in the previous day prompts purchases by some traders.
On Wednesday, gold fell 12.8 U.S. dollars to 1,753.6 U.S. dollars per ounce, a two-week low.
Gold advanced more than 5 percent so far this month. Analysts say concerns about the health of the global economies and fears of currency debasement and inflation following stimulus measures from central banks around the world have pushed gold prices higher.
The ICE dollar index, which measures U.S. dollar against a basket of six other currencies, fell to 79.509 from 79.920 in late Wednesday trading in North America.
The weaker U.S. dollar provided support for gold and other dollar-denominated commodities, as it makes them cheaper for holders of other currencies, broadening their investment appeal.
Silver for December delivery rose 72.6 cents, or 2.14 percent, to close at 34.666 dollars per ounce.
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