Gold prices rose on Tuesday to their highest in more than two weeks as a weaker dollar and new investment money helped boost sentiment. Spot gold rose to $1 127.55 (R8 220) , its highest since December 17. The dollar slipped against a basket of currencies as hopes for economic recovery encouraged investors to switch to riskier assets such as stocks, commodities and other higher yielding currencies. "Commodities look strong. Gold is gaining from a combination of the weaker dollar and new money from investors," said James Moore, analyst at TheBullionDesk.com. Silver also rose to $17.72, the highest since December 17, while platinum surged to $1 524.50 -- a level last seen in August 2008 -- on talk of new platinum and palladium-backed exchange traded products in the United States. Traders said platinum and palladium used to make autocatalysts had also been helped by expectations of stronger demand from the auto sector once economic recovery strengthens. PRICES * Spot gold was bid at $1 126.80 a troy ounce at 09:57 SA time from $1 121 late in New York on Monday. * Silver was at $17.70 from $17.55. * Platinum at $1 521.50 from $1 521. * Palladium at $422.50 from $418. DATA/EVENTS * US factory orders, durable goods and pending home sales data for November due at 17:00 SA time. December US vehicle sales data also due, but no set time. * Euro zone inflation data for December due at 12:00 SA time. MARKET NEWS * Growing confidence about the global economy lifted Asian stocks to a fresh 17-month high as investors continued to be drawn to riskier assets, while the dollar stabilised after a weak start to the year. * The dollar slipped against a basket of currencies as growing hopes for a global economic recovery encouraged investors to shift funds to riskier assets away from the greenback. * Oil edged up towards $82 a barrel on Tuesday, heading for its ninth straight session of gains as a cold snap in the key consuming regions of the United States and Europe boosted demand for heating fuel. FUNDAMENTALS * The world's largest gold-backed exchange-traded fund, SPDR Gold Trust, said its holdings stood at 1 128.745 tonnes as of January 4, down 4.877 tonnes or 0.4 percent from the previous business day. TECHNICALS * Gold support at $1 115 an ounce, resistance at $1 142 and 14-day RSI at 63. * Silver support $16.75, resistance $17.80 and 14-day RSI at 62. * Platinum support $1 490, resistance $1 550 and 14-day RSI at 74. - Reuters

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