GOLD: Gold mixed in early sessions but turned higher in the face of the dollar's strength. Buying interest emerged as traders returned after Martin Luther King Jr. Day holiday on Monday. Indian traders seen mainly on the sidelines, awaiting fresh price declines, while speculative buying seen in precious metals - Jon Nadler at Kitco Metals Inc.
Gold/oil ratio at 14.42 against previous session's 14.53. COMEX estimated final volume at 221,766 lots. Spot gold was at $1,138.10 an ounce at 4:28 pm EST (2128 GMT), against the previous session's late quote of $1,132.50.
SILVER: March silver ends up 37.3 cents, or 2 percent, at $18.800 an ounce, tagging gold. Range from $18.400 to $18.880. COMEX estimated final volume at 40,158 lots. Spot silver at $18.75 an ounce, versus the previous session's late quote of $18.61.
PLATINUM: NYMEX April platinum finishes up $43.30, or 2.7 percent, at $1,639.40 an ounce on strong market sentiment due to the US platinum and palladium exchange traded funds. Platinum futures rose to session high $1,647.70, their loftiest level since August 2008.
BofA Merrill Lynch raised its 2010 platinum forecast to $1,750 an ounce from $1,440 an ounce, on investment buying and an improving auto sector boosted demand for the metals used in autocatalysts. PGM prices to outperform based on the potential strength of industrial production in 2010, especially in the auto sector - Barclays Capital. Spot platinum was at $1,643.50 an ounce.
PALLADIUM: March palladium hit an 18-month high $467.05. It closed up $14.20, or 3.2 percent, at $461.95 an ounce on ETF-related investment demand. Spot palladium was at $464.50 an ounce.