Platinum rose for a seventh consecutive session, driven by strong hedge fund buying after a mine labor crisis at the world's largest platinum producer in South Africa stirred fears of a supply shortage.
Platinum rose to a three-month high on Tuesday, rallying for a sixth straight session as funds bought heavily due to a mine labor crisis in South Africa that sparked supply fears.
Gold edged up, but trailed platinum's rise, helped by gains in agricultural and energy prices.
Gold fell 1 percent on Friday, finishing nearly flat for the week, after growing inflation pressure in China dented hopes for more stimulus from the world's second-largest economy.
Gold prices topped $1,675 an ounce, rising along with the euro after the European Central Bank gave no hints on near-term rate cuts.
Gold eased in light trading, giving back some of the previous session's gains, while platinum group metals rallied as improving U.S. auto sales and a better economic outlook triggered fund buying.
Gold ended above $1,662 an ounce on Tuesday, helped by a recovery in stock markets and a rise in physical demand.
Gold dropped as uncertainty about the duration of the Federal Reserve's economic stimulus program decreased bullion's appeal as a hedge against inflation.
Gold fell on Friday, but rebounded sharply off a 4-1/2 month low after U.S. data showed job market growth has slowed, suggesting the Federal Reserve may retain its monetary stimulus in the near term.
Gold fell on signs that the Federal Reserve is increasingly concerned about the risks of the Fed's asset purchases on financial markets, which undercut bullion's appeal. .
Gold rose nearly 1 percent on Wednesday, as economic optimism fueled sharp gains on Wall Street after U.S. lawmakers clinched a last-minute deal to avoid tax hikes that threatened to send the economy back to a recession.
Gold stretched higher on Monday on hopes that an agreement to head off a fiscal crisis could soon be at hand.
Gold fell, wiping out what would have been its first weekly gain since November, as traders priced the market lower while awaiting the outcome of last-ditch U.S. budget talks before a year-end deadline.
Gold rose, but stayed in sight of last week's four-month lows as investors focused on talks between the White House and Congress to prevent the U.S. economy from plunging into recession next year.
Gold edged higher on Wednesday as thin post-Christmas trading and anticipation that a U.S. budget deal might be done before the end of the year supported bullion prices.
Gold was little changed in thin pre-holiday trade on Monday, as prices stayed near a four-month low as the U.S. fiscal stalemate drove investors to the sidelines.
Gold bounced back from near a four-month low as investors were discouraged by a weaker euro and stalled U.S. budget talks.
Gold plunged below $1,650 an ounce, down more than 1 percent, and to its lowest since August as heavy liquidation by hedge funds and signs of an improving U.S. economy triggered selling.
Gold stalled on Wednesday, within sight of an almost four-month low as signs of progress in the U.S. fiscal talks that dented bullion's safe-haven appeal.
Gold fell almost 2 percent on Tuesday to its lowest price since August, hit by heavy technical selling and growing hopes that U.S. legislators are closer to reaching a deal that would avert a fiscal crisis next month.