Spot gold prices rose to their highest in four months on a jump in the euro and investment demand,while platinum and palladium hit multi-month highs on expectations of strengthening industrial demand as the economy recovers. FUNDAMENTALS * Spot gold climbed as high as $1,168.70 per ounce early in Asian trade on Monday,its highest since Dec. 4,and stood at $1,165.35 as of 0014 GMT,up 0.5 percent from New York's notional close of $1,159.00. * Gold prices were underpinned by investors fleeing to safety amid lingering concerns about Europe's financial stability,symbolised by Greece's debt crisis. The metal ended last week up about 3 percent,the biggest gain since the week of Jan. 10. * U.S. gold futures for June delivery inched up 0.4 percent at $1,166.40 per ounce compared to $1,161.90 an ounce on the COMEX division of the New York Mercantile Exchange. * The world's largest gold-backed exchange-traded fund,the SPDR Gold Trust,said its holdings hit an all-time high of 1,141.041 tonnes as of April 9,topping the previous record hit the day before. * Spot palladium rose to a two-year high above $511.50,while spot platinum marked a 20-month high above $1,724.00. * Silver rose as high as $18.53 an ounce,the highest since Jan. 20. * Noncommercial net long U.S. gold futures positions jumped 17 percent to 203,466 contracts in the week that ended on April 6 from 173,766 contracts a week earlier,the biggest percentage rise in eight months and the highest level in a month. MARKET NEWS * Nikkei was up 0.8 percent on Monday. * U.S. stocks rose on Friday with the Dow surpassing 11,000 for the first time in a year-and-a-half after Chevron's upbeat outlook and wholesale inventories data reinforced bets on an improving economy. * The euro jumped to its highest in nearly a month in early Asian trade on Monday,after European Union leaders agreed to a rescue package for Greece which traders said could drive investors to cover short positions. * Oil prices rose above $85 a barrel on Monday,after falling for the third day in a row on Friday due to bloated inventories stoking concerns about weak demand. DATA EVENTS * The following data is expected on Monday: - U.S. Federal budget for March. (1800 GMT) - UK BRC March retail sales survey. (2301 GMT) - UK March RICS house price survey. (2301 GMT)
