Gold rose on Wednesday after the Greek parliament approved debt austerity measures, that fuelled investor appetite for commodities and other riskier assets and boosted the euro against the dollar. Also underpinning gold was President Barack Obama's call for new market stimulus including job creation measures, which are likely to further complicate talks with Republicans on an agreement to raise the US debt ceiling.
Spot gold was last up 0.5 percent at $1,508.49 an ounce by 3:15 pm EDT (1915 GMT), countering losses seen earlier in the week that took the price below $1,500. US August gold futures settled up $10.20 to $1,510.40, after trading between $1,500.8 and $1,513.80. Silver was up 2.5 percent at $34.72 an ounce. Platinum group metals rose for a second day due to concerns over power supply in South Africa, the world's top producer of platinum. Spot platinum was last up 2 percent at $1,722.24 an ounce, and palladium rose 1.5 percent to $747.47.