Gold rose toward a two-month high since 2011, investors assessed the outlook for U.S. borrowing costs. Silver climbed to the highest level since March.
Bullion for immediate delivery added as much as 0.4 percent to $1,321.51 an ounce, and traded at $1,319.55 by 2:19 p.m. in Singapore, according to Bloomberg generic pricing. Prices climbed to $1,325.95 on June 24, the highest since April 15.
Gold has risen 9.8 percent this year in part as concern that the U.S. recovery is faltering boosted demand for a store of value.
Gold for August delivery gained 0.3 percent to $1,320.40 an ounce on the Comex in New York. Prices will average $1,250 an ounce next quarter, according to the median of 15 estimates in a Bloomberg survey.
Spot silver rose as much as 0.4 percent to $21.1865 an ounce, the highest since March 18, before trading at $21.1120. Platinum climbed 0.2 percent to $1,473.38 an ounce, up 3.9 percent since the end of March. Palladium added 0.3 percent to $838.08 an ounce, also heading for a second quarter of advance.
