Gold prices rose moderately on Monday, firming initially on technical buying and later hitting three-day highs as the metal followed gains in oil and equity markets after data showed improved manufacturing in the United States and China. Spot gold traded up 0.6 percent at $1,677.46 an ounce by 3:35 p.m. EDT (1935 GMT), while US gold futures for June delivery gained $7.20 an ounce at $1,679.10.
Gold prices rose 6.6 percent in the first quarter, after Federal Reserve comments reassured investors that US interest rates would remain low for an extended period, keeping the opportunity cost of holding gold low. Spot silver jumped 2.5 percent to $33.01 an ounce. The grey metal broke a three-quarter losing streak in the first three months of 2012, rising 16 percent on gold's coat-tails. Spot platinum was off 0.27 percent at $1,644.73 an ounce, while spot palladium rose 0.6 percent to $652.10 an ounce.
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