Gold hit a four-week high and broke above a key resistance on Wednesday, defying a stronger dollar, as the festering eurozone debt crisis lured investors to its safety and signs of strong demand from the world's top two consumers also supported.
Short-covering after gold breached above the key 200-day moving average - $1,635.25 an ounce - may also have helped push up prices, traders said. Spot gold gained 0.8 percent to a four-week high of $1,646.56 an ounce, before easing slightly to $1,643.50 by 0733 GMT, on course for a second session of gains. US gold rose 0.8 percent to $1,644.60.