Gold rose to a one-month high on Wednesday, breaking ranks with the euro and equities, as evidence of strong physical demand from China fuelled fund buying after bullion's recent sell-off. Spot gold was up 0.3 percent at $1,637.51 an ounce by 2:36 p.m. EST (1936 GMT). US February gold futures settled up $8.10 at $1,639.60 an ounce, with volume in line with its 30-day average.
Gold's gain brought prices above their 200-day moving average around $1,635 an ounce. The metal had held the 200 DMA for around three years until late December. Silver was down 0.3 percent on the day at $29.85 an ounce, after it rose more than 3 percent in the last session. Platinum rose for a third straight day, gaining 1.6 percent to $1,484.75 an ounce. The metal has been helped this week by reports of a high risk of power outages in South Africa, the world's largest producer of platinum. Palladium added 1 percent at $639.75 an ounce.
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