SINGAPORE (Commodity Online) : Gold prices extended gains in Asian trade Thursday as the dollar further weakened against major currencies.
Spot gold was seen trading at $1098.21 an ounce at 11.30 a.m Singapore time while gold for February delivery was at $1,097.53 an ounce at the same time.
Trade commodities or equities from across the globe. Join Now
On Wednesday, a weak dollar pushed gold to a higher settlement in New York as investors found the metal's recent pullback to be a buying opportunity.
February gold rose $7.30 to settle at $1094 an ounce on the Comex division of the New York Mercantile Exchange.
The dollar traded at $1.4351 per euro in Tokyo from $1.4337 Wednesday in New York. The Dollar Index slid 0.2 percent.
Gold has gained 24 percent this year as U.S. growth slumped during the longest recession since World War II, spurring demand for the precious metal as an investment haven.
Meanwhile, gold holdings in the SPDR Gold Trust, the biggest exchange-traded fund backed by bullion, were unchanged at 1,132.71 metric tons Wednesday.
Among other precious metals, silver rose 0.7 percent to $17.225 an ounce, palladium jumped 1.4 percent to $363.50 and platinum gained 0.1 percent at $1,422.50 an ounce.
