Gold rose as much as 2 percent, silver hit a 10-month high and platinum climbed to its highest in six months on Tuesday, as the dollar weakened after U.S. data came in below forecasts.
Gold futures touched a one-week high of $1,256.80 an ounce and was up 1.41 percent at $1,252.40. Platinum futures rose 4.1 percent to its highest since Oct. 23 at $1,015.70.
"The severe technical damage that was done on the dollar is a big factor. I think that's the driving force today," said Eli Tesfaye, senior market strategist for brokerage RJO Futures in Chicago.
"That has not only helped precious metals ... there's not a commodity that's not up today and that's attributed to the weakness in the dollar."
The dollar extended losses after the U.S. data, falling 0.6 percent against a basket of major currencies. The greenback has fallen to lows not seen since October last year in recent weeks.
Global equities climbed on Tuesday, but that did not dampen demand for gold, often seen as a hedge against risk.
"Gold should probably hang on to its gains in the second quarter because the dollar is likely to stay relatively subdued with the expectations of U.S. interest rate hikes being pushed out to the second half of this year," Mitsubishi Corp analyst Jonathan Butler said.
"That generally means that the yield environment for non-interest-bearing assets remains fairly favorable."
Reference: CNBC
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