Gold rose 2.5 percent on Tuesday, recouping all of last week's losses that pushed it to the brink of a bear market, as encouraging US manufacturing data sparked rallies in the euro and the equities markets. Spot gold was up 2.5 percent at $1,604.69 an ounce by 2:58 PM EST (1958 GMT). US gold futures for February delivery settled up $33.70 at $1,600.50 an ounce.
Silver rose 6.3 percent to $29.54 an ounce. In other precious metals, platinum rose 2.2 percent to $1,424.49 an ounce and palladium rose 1.8 percent to $661.80 an ounce.
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