Today, gold gained after a sharp rise in new coronavirus cases and deaths in China dampened risk sentiment, prompting investors to buy the metal.

Spot gold was up 0.6% at $1,574.50 per ounce at 12:50 GMT, and U.S. gold futures were 0.4% higher at $1,577.70.

Palladium shed 0.4% to $2,395.80 per ounce, having hit a one-week high earlier in the session.

However, silver rose 1% to $17.64, while platinum gained 0.2% to $963.14.