Gold jumped to a six-month high as investors sought a safe harbor in precious metals on concern that the U.S. government’s plan to rescue banks may fail to revive the economy. Silver and platinum jumped to four-month highs. The Standard & Poor’s 500 Index fell 4.9 percent yesterday after Treasury Secretary Timothy Geithner sketched out a $2 trillion plan to fix the financial system that left many unanswered questions about its mechanics. Crude oil has dropped 19 percent this year, including today’s 4.3 percent tumble, while gold has climbed 6.8 percent. “This uncertainty increased risk aversion and continued a flight to a safe haven of gold and platinum investments,” Bayram Dincer, a commodity analyst at Dresdner Bank in Zurich, said in an e-mailed comment. Gold futures for April delivery rose $30.30, or 3.3 percent, to $944.50 an ounce on the New York Mercantile Exchange’s Comex division. Earlier, the price reached $949, the highest for a most-active contract since July 23. The metal touched a record $1,033.90 on March 17. Yesterday, investment in the SPDR Gold Trust, the biggest exchange-traded fund backed by bullion, jumped 1.5 percent to a record 894.7 metric tons. “Support will continue to come from investment flows,” said Tom Pawlicki, an analyst at MF Global Ltd. in Chicago. Silver futures for March delivery gained 39 cents, or 3 percent, to $13.52 an ounce. Earlier, the metal reached $13.67, the highest since Sept. 26. Platinum futures for April delivery rose $45.80, or 4.4 percent, to $1,080.70 on the Nymex. Earlier, the price reached $1,085, the highest since Sept. 30. Price Outlook Gold’s rally “sparks trending moves to $950 to $955, as well as holding potential for an extreme spike to $980,” Ralph Preston, a commodity analyst with Heritage West Futures Inc. in San Diego, said in an e-mail. Palladium futures for March delivery climbed $3.80, or 1.8 percent, to $215.80 an ounce in New York. The price has gained 14 percent this year. Platinum and palladium are used mostly in jewelry and pollution-control devices in cars. Prices tumbled last year as metal consumption by the auto industry plunged. Congress reached an agreement this afternoon on a $789 billion stimulus bill, sought by President Barack Obama. Obama said the measure will create or save as many as 4 million jobs. Tax Cuts About 35 percent of the bill’s value is in tax cuts, according to Senator Max Baucus, a Montana Democrat who chairs the chamber’s finance panel. Obama traveled to Virginia to promote the plan before the deal was reached in Washington. Gains in platinum and palladium may be limited should investment demand stall, Miguel Perez-Santalla, a sales vice president at Heraeus Precious Metals Management in New York, said in an e-mail. “This thing can turn on a dime,” he said. “It is all investment money. There remains to be seen any demand from industry.”

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