Gold prices eked out small gains in choppy trade on Monday as safe-haven buying kicked in and a relief rally in other financial markets faded when investor enthusiasm about a European bailout for Spain's banks dried up. Investors sought refuge in bullion as deepening worry about saddling Spain with further debt of up to $125 billion knocked the euro off three-week highs and sent equities into retreat.
Spot gold was up 0.2 percent at $1,595.69 an ounce by 5:04 pm EDT (2104 GMT) on a late burst of safe-haven buying. Still, it finished off its session high of $1,607.95 and below the key $1,600 per oz mark. US gold futures for August delivery settled up $5.40 an ounce at $1,596.80, Prices were volatile with volume sharply lower than usual at about half of its 30-day average, preliminary Reuters data showed. Spot platinum was up 1.4 percent at $1,441.74 an ounce, while spot palladium rallied 1.6 percent to $619.22 an ounce. Silver was up 0.5 percent $28.62 an ounce.