US gold futures ended higher on Thursday on a combination of crude oil's rally, dollar decline and an inflow in exchange traded fund, but volume was muted due to Japan's ongoing nuclear crisis. COMEX April gold futures settled up $8.1 at $1,404.2 an ounce on the COMEX division of the NYMEX.
Range ran from $1,386.80 to $1,405.40 an ounce. A wave of cross-asset buying lifted gold. Global equity markets rebounded after three days of selling despite Japan, and oil rallied by more than 3 percent on unrest in the Middle East and North Africa. Total US COMEX trade was about three times weaker than its Wednesday's volume and one-third lower than its 30-day average - preliminary Reuters data. Spot gold rose 0.3 percent to $1,403.32 an ounce by 2:08 pm EDT (1808 GMT). COMEX May silver finished down 21.4 cents at $34.258 an ounce, on profit taking. Range spanned $33.640 to $34.695 an ounce. Spot silver traded in lock steps with gold and was later down 0.2 percent at $34.28 an ounce.
NYMEX April platinum gained $6.4 to $1,706.9 an ounce on industrial metal gains led by copper. Spot platinum gained 0.7 percent to $1,697.99 an ounce. NYMEX June palladium ended up 11.75 cents or 1.7 percent at $716.80 an ounce on short covering. Spot palladium rebounded 2.2 percent to $710 an ounce.
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