Gold may gain after exchange-traded product holdings climbed to a record, and speculation that European leaders are making progress in containing the debt crisis boosted the euro and equities. Palladium rallied to the highest level in a month, rising for the seventh day in eight. Immediate-delivery gold was little changed at $1,729.68 an ounce at 11:20 a.m. in Singapore after rising 0.3 percent yesterday. Metal held in ETPs climbed to 2,358.206 metric tons yesterday, according to data compiled by Bloomberg. February- delivery bullion was little changed at $1,733.60 on the Comex. European officials are negotiating a bigger rescue plan to present at a summit in Brussels that begins tomorrow. Policy makers may run two bailout funds simultaneously, the Financial Times said yesterday, bolstering the euro against the dollar. “Gold and silver drifted higher as the U.S. dollar (DXY) eased,� Lachlan Shaw, an analyst at Commonwealth Bank of Australia, said in an e-mail today. Trading is “thin� as investors wait for the summit, he said. The euro was at $1.3417, rebounding from yesterday’s low of $1.3334. The MSCI Asia Pacific Index of equities increased as much as 0.9 percent. Spot palladium extended yesterday’s 5.9 percent gain, the most since December 2009, after U.S. light-vehicle sales grew last month, boosting speculation demand will increase for the metal used in autocatalysts. It climbed as much as 0.8 percent to $675.75 an ounce today, the highest price since Nov. 9. Cash silver dropped 0.7 percent to $32.545 an ounce, while platinum advanced 0.7 percent to $1,533.38 an ounce. To contact the reporter on this story: Glenys Sim in Singapore at gsim4@bloomberg.net To contact the editor responsible for this story: James Poole at jpoole4@bloomberg.net

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