Comex gold prices shot to two-week highs on Wednesday, bolstered by a shaky US dollar and news overnight that Japan was considering the low weighting of its gold reserves, dealers and analysts said.
Separate news that Norway's central bank sold 16 tonnes of gold briefly capped the metal's rise before it recovered and breached resistance on fund and speculative buying.
"I think once gold got above last week's highs it started activating some buying interest," said David Rinehimer, head of commodity research at Citigroup Global Markets.
Before the close, traders said the market mainly awaited the US Federal Reserve's word on interest rates.
The Fed held rates flat at 1958 lows to keep the economic recovery rolling but amended the wording on future moves slightly to say it can "be patient" before lifting borrowing costs.
Gold for February delivery gained $4.50 to $414.60 an ounce, trading from $408.20 to $415.00, its highest since January 15.
London's afternoon fix was at $411.00. Comex March silver gained 7.5 cents to $6.63 an ounce, trading from $6.50 to $6.65, its highest mark since January 13, as gold rose.
Spot was quoted at $6.51/53 against $6.53/55 previously. On Wednesday's fix was at $6.54. Nymex April platinum fell $4 to $850.10 an ounce.
Spot traded to $853.00/858.00. Thinly-traded March palladium advanced $4.40 to $248.40 an ounce.
Spot was indicated at $240.00/245.00.