US gold futures rose to their highest mark in four sessions on early Wednesday as the US dollar failed to react positively to a batch of US economic data. "The data was probably a little dollar friendly, but the dollar didn't react at all. The dollar was trading down slightly before the data came out and then proceeded to trade lower after the reports came out," said one dealer.
February gold futures on the New York Mercantile Exchange's COMEX division rose $1.70 to $425.20 an ounce by 10:14 am EST (1531 GMT), dealing between $422.60 to $427.20, which was its highest mark since Thursday.
Gold climbed in tandem with the euro's push to session highs above $1.3100 early Wednesday. By midmorning, the euro was up 0.4 percent against the dollar at around $1.3118, from $1.3082 late Tuesday.
Gold usually moves in opposition to the dollar as many investors use the metal as an alternative to the currency.
Traders cited profit-taking in dollars and technical factors as drivers for the euro's push up, more so than any market reaction to the economic reports.
Support in COMEX February gold was pegged at $417.10 and $411.50, with key resistance at $428.30, $432.90 and $434.70.
Spot gold hovered around $425.60/6.10, versus Tuesday's New York closing at $423.10/3.60.
March silver rose 2 cents $6.675 an ounce, trading from $6.635 to $6.745.
Spot silver reached $6.64/67, up slightly from its last late quote at $6.63/66.
April platinum gained $8.30 to a three-week high at $870 an ounce. Spot platinum traded at $869/874.
March palladium rose $4.55 to $190 an ounce. Spot was trading at $186/190.
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