Gold prices rose to their highest in nearly a week on Tuesday as the euro rallied 1 percent versus the dollar, but volume was light and short-term traders were unwilling to take big risks before year end. Many long-term traders have closed their books for the year, which should keep gold in a sideways range until 2012.
Spot gold stayed about 1.3 percent higher into late trade, changing hands around $1,613 an ounce at 1535 EST (2035 GMT) after reaching its highest since December 14 at $1,618.26. US February gold futures settled $20.90 per ounce higher at $1,617.60, a 1.31 percent increase.