"I am hearing of US and European dealers buying these metals but I haven't seen Chinese buyers as prices have climbed recently," said Yuichi Ikemizu, the Tokyo branch manager for Standard Bank. Spot platinum rose as high as $1,626.00 per ounce, its highest since August 2008, and up 0.2 percent from the notional close in New York on Friday.
Spot palladium rose as high as $457.50 an ounce as of 0736 GMT, its highest since July 2008, and up 1 percent from Friday's notional close in New York. Gold prices were up slightly but the topside was limited by firmness in the dollar, as the closure of New York markets later in the day kept many investors on the sidelines.
Spot gold inched up 0.5 percent to $1,135.60 per ounce as of 0729 GMT compared with New York's notional close of $1,129.90. New York energy and commodity markets are closed on Monday for Martin Luther King Jr. Day. US gold futures for February delivery were at $1,135.80 per ounce, up 0.5 percent. Electronic trading of the NYMEX/COMEX products on CME Globex is running for the January 19 trade date.
Gold was underpinned by physical demand on any fall towards $1,100, helped by buying from gold jewellers in India. Spot gold hit a five-week high of $1,161.50 on January 11. Gold has fallen 2.3 percent since then, as a rise in the greenback hurt investor sentiment.