Gold rose to a one-month high on Thursday, as comments by the president of the European Central Bank on cheap money stabilising the region's banking system extended the metal's gain to a third consecutive day. Spot gold was up 0.3 percent at $1,645.90 an ounce by 2:35 pm EST (1935 GMT), having touched a one-month high at $1,661.71. US gold futures for February delivery settled up $8.10 an ounce at $1,647.70.
Trading volume was 10 percent above its 30-day average, consistent with recent stronger turnover after thin holiday trade. Silver was up 0.3 percent for the day at $30.01 an ounce. Spot platinum rose 0.2 percent to $1,492.06 an ounce, while spot palladium dropped 1.3 percent to $631.97 an ounce. Platinum climbed for a fourth day on Thursday for its largest weekly gain since October with a rise of 7 percent.