Gold was trading within a narrow range today, climbing to reach US$1,350/oz in the afternoon after inching lower in morning trade.
The yellow metal was pushed higher by a decline in the US dollar, which is seen as an alternative asset, as well as strong demand for physical gold.
Bloomberg reported today that investors have a US$102 billion bet on higher precious metal prices.
The median estimate of the top five most accurate analysts ranked by Bloomberg have silver rising 23% this year, while gold is projected to surge 20%.
Gold last traded at US$1,350/oz.
Silver and platinum rose to US$29.28/oz and US$1,845/oz respectively.
Gold producers Randgold Resources (LON:RRS) and African Barrick Gold (LON:ABG) advanced 2.4% and 1.1% respectively.
Silver miner Fresnillo (LON:FRES) rose 1.5%.
Platinum miner Lonmin (LON:LMI) stood just above the opening level.
In the FTSE 250, Petropavlovsk (LON:POG) and Aquarius Platinum (LON:AQP) added just over 1.5%.
Hochschild Mining (LON:HOC) posted a small loss.
Gold and silver explorer Condor Resources (LON:CNR) was among the top risers in the sector with a 16% gain.
Gold and iron ore focused African Aura Mining (LON:AAAM) and gold an copper mining company Rambler Metals & Mining (LON:RMM) followed, rising 7.5%.
Gold exploration and development company Ariana Resources (LON:AAU) followed with a 6% gain.