US gold futures surge almost 4 percent on Thursday, trading above $910 an ounce as funds switched back into commodities as the stock market fell amid renewed credit fears. August contract on Comex division of New York Mercantile Exchange up $29.40 or 3.3 percent at $911.70 an ounce at 10:31 am EDT (1431 GMT).
August futures ranged from $886.60 to $916.00 - a one-month peak. Higher Comex gold open interest and chart-based support above $900 an ounce lends support to gold futures, RBC Capital Markets Global Futures Vice President George Gero said.
Spot gold was quoted at $910.50/911.50, compared with its previous New York finish of $879.60/880.60 on Wednesday. July platinum was up $46.00 or 2.3 percent at $2,059.50 an ounce, tracking gold and other precious metal's rally. Spot platinum was at $2,052.00/2,072.00.
September palladium was up $3.70 at $468.70 an ounce. Spot palladium was quoted at $461.50/469.50. July silver was up 77.7 cents or 4.7 percent at $17.280 an ounce, outperforming gold's rise on Thursday. Range from $16.690 to $17.440. Spot silver was at $17.27/17.34 compared with $16.56/16.62 late Wednesday.