Gold rose nearly 1 percent on Thursday as comments by German
Chancellor Angela Merkel and disappointing US manufacturing and housing data
fuelled speculation that central banks may be set to launch more
bullion-friendly stimulus measures. Platinum rose 3 percent as supply worries
in South Africa prompted investors to buy the metal. Labour unrest forced
Lonmin, one of the world's top platinum producers, to cease production. South
Africa accounts for three-quarters of the world's platinum output.
Spot gold gained 0.8 percent to $1,616.20 an ounce by 2:09 p.m. (1809 GMT). US COMEX gold futures for December delivery settled up $12.60 at $1,619.20 an ounce, with trading volume about 30 percent below its 30-day average, preliminary Reuters data showed. Among other precious metals, silver was up 1.5 percent at $28.21 an ounce, while spot platinum was up 3.4 percent at $1,436.49 an ounce. Spot palladium was up 0.7 percent at $587.47 an ounce.
Spot gold gained 0.8 percent to $1,616.20 an ounce by 2:09 p.m. (1809 GMT). US COMEX gold futures for December delivery settled up $12.60 at $1,619.20 an ounce, with trading volume about 30 percent below its 30-day average, preliminary Reuters data showed. Among other precious metals, silver was up 1.5 percent at $28.21 an ounce, while spot platinum was up 3.4 percent at $1,436.49 an ounce. Spot palladium was up 0.7 percent at $587.47 an ounce.
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