year end due to tax implications."
Hedge fund managers cut their bullish bets on gold only modestly in the week to Dec. 17, data released on Friday showed.
Physical demand picked up in Asia as prices fell towards $1,200 last week but not to the same level seen during earlier price drops this year.
Volumes traded on the Shanghai Gold Exchange for the 99.99 percent purity gold contract were lower than Thursday's two-month peak. Premiums edged up $2 to $18 an ounce from Friday.
Silver rose 0.4 percent to $19.44 an ounce. Spot platinum was up 0.4 percent at $1,332.40 an ounce, while spot palladium rose 0.1 percent to $696.60 an ounce.