US gold rose to its highest since January on Wednesday, rising toward $1,150 an ounce, as renewed worries over Greece's ability to resolve its debt crisis prompted investors to pile into the metal as a safe haven. COMEX June gold up $8.80 at $1,144.80 an ounce at 10:50 am EDT (1450 GMT).
Range $1,133.30 to $1,149 - loftiest since January 12. Active trading by commodity funds led to increase in open interest in June contracts, said George Gero at RBC. Gold on track to rise for a fifth straight session despite euro's drop on Tuesday. Gold in euro terms rallied to a record peak 858.98. The euro dropped against the dollar to its lowest in more than a week on renewed concerns about Greece. COMEX gold 10 am volume at 76,068 lots.
Spot gold was at $1,144, compared with $1,133.20 late in New York's previous session. COMEX May silver up 20.9 cents, or 1.2 percent, at $18.140 an ounce as the white metal rises to highest since January. Range $17.920 to $18.245 - firmest since January 20. COMEX gold 10 am volume 20,489 lots.
Spot silver at $18.12, versus $17.88 late in the prior session. July platinum up $15 at $1,719.50 an ounce on better investment demand amid economic optimism. Platinum group supported as US auto sales jumped in March and positive economic data. Spot platinum at $1,712 an ounce. June palladium down $1.10 at $507.40 an ounce as the market takes a breather after recent sharp rallies. Spot palladium at $505 an ounce.
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