by: By Jan Harvey
LONDON (REUTERS) -
"Gold rose more than 1 percent on Wednesday to its highest in a month, rising along with the euro, stocks and other commodities as investors hoped a European Central Bank policy meeting later would result in action to combat the euro zone financial crisis.
"Spot gold was up 1 percent at $1,633.18 an ounce at 0941 GMT, while U.S. gold futures for August delivery were up $17.80 an ounce at $1,634.70.
"Other precious metals rose in gold's wake, with both silver and palladium climbing nearly 3 percent to their day's highs. Commodities rallied broadly, with crude oil up nearly 1 percent, as a stronger euro supported interest in dollar-priced assets.
"This morning there is a general commodities run; the whole sector is up by different degrees," RBS Global Banking & Markets analyst Nikos Kavalis said. "This to a large extent is linked to the euro doing rather well. ..."