Gold prices moved up in thin Asian trade Monday as markets yet to pick up momentum after a three day holiday.
Gold for immediate delivery was seen trading at $1111.05 an ounce at 12.00 noon Singapore time compared with New York's notional close of $1103.80.
US gold futures for February delivery were also up 0.4 per cent, at $1109.70 an ounce, compared with $1104.80 an ounce on the COMEX division of the New York Mercantile Exchange on December 24.
Analysts also attributed gold's gains on speculation that some investors are increasing their holdings after the metal fell for a fourth week.
The world's largest gold-backed exchange-traded fund, SPDR Gold Trust, said its holdings stood at 1132.708 tones as of December 27, unchanged from the previous business day. Holdings hit a record high of 1134.03 tones on June 1.
The US dollar was steady against a basket of major currencies on Monday in quiet Asian trade. The dollar was up 0.5 per cent against the yen and up 0.3 per cent against the euro.
Platinum for immediate delivery soared as much as 1.8 percent to $1,489.75 an ounce, the highest price since Dec. 4, before trading at $1,488 an ounce.
Silver gained 0.3 percent to $17.56 an ounce and palladium was little changed at $386.75 an ounce at 12.00 noon Singapore time.
Forex Trader Library
Receive over 15 hours (8 CD's) of our best Forex trading education in one package! Containing the newest Advanced Forex CD, this education pack focuses on exactly what you need to know to become a successful Forex Trader.