Gold gained for the fifth consecutive day, the longest buying spree since June, to hit a three-month high as investors resorted for the safe-haven option upon economic uncertainty in the United States and Europe.

Spot gold rose 0.2% to touch a three month high of $1,238.54 in early European trading.

Bullion jumped 5.5 percent in January on weaker dollar.

Bullion for immediate delivery added 0.3 percent at $1,237.49 an ounce by 11:38 a.m.

U.S. gold futures were little changed at $1,236.30 an ounce.

Holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, climbed 1.01 percent to 826.95 tonnes on Tuesday from Monday. Holdings rose for a fifth straight session.

The rise in holdings, along with recent data from U.S. Commodity Futures Trading Commission (CFTC), shows an increase in long positions for managed money and a decrease in short holders, MKS PAMP Group trader Alex Thorndike said.

Spot silver added 0.3 percent to $17.7645 an ounce, after reaching its highest at $17.79 since November 11, in the previous session.

Platinum rose 0.7 percent to $1,008.40, after hitting its highest since Nivember 9 at $1,015.20, in the previous session.

Palladium fell 0.2 percent to $759.

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