against the dollar kept Tokyo gold futures near an all-time high, while the most active platinum contract on the Tokyo Commodity Exchange (TOCOM), currently December, rallied to its highest since early 2010, at 5,286 yen a gram.
"In Japan, there's technical buying of platinum and palladium because the yen has depreciated so much. It has triggered short-covering. We don't see much buying of platinum here," said a physical dealer in Hong Kong.
"Gold is stuck in a big range of $1,650 to $1,700. We heard that people are selling gold and buying stocks in the euro zone. Europe is more stable after many years of struggle, and people are ready to enter the stock markets."
Premiums for gold bars in Hong Kong eased to $1 to $1.50 an ounce to the spot London price from as high as $1.70 last week as physical activity began to slow down ahead of the long Lunar New Year break.
China's gold production rose for a sixth consecutive year and hit a record 403 tonnes in 2012, keeping its ranking as the world's largest bullion producer, the Shanghai Securities News said on Thursday.