Silver, platinum and palladium rose to the highest level in at least a week after China’s manufacturing expanded for the first time in three months. Gold was steady. The Purchasing Managers’ Index rose to 50.2 in October from 49.8 in September, the National Bureau of Statistics and China Federation of Logistics and Purchasing said today. A reading above 50 indicates expansion. A separate survey from HSBC Holdings Plc and Markit Economics was at an eight-month high. Manufacturing in the U.S. probably expanded for a second month in October, another report may show today. “The PMI should provide further evidence that the negative trend may be waning concerning the global industrial cycle,� said Georgette Boele, a commodities strategist at ABN Amro Group NV. “The Chinese PMI points in this direction. This is supportive for the most cyclical precious metals such as silver and palladium.� Silver for immediate delivery rose 0.6 percent to $32.4563 an ounce by 9:22 a.m. in London and earlier it advanced 0.9 percent to the highest since Oct. 19. Spot palladium rose 1.9 percent to $616 an ounce, the highest level since Oct. 23. Commodities, European stocks and the U.S. dollar rose after the Chinese data and as investors awaited reports out of the U.S. The Asian data improved sentiment and supported gold, which is trading alongside risky assets, Boele said. Gold for immediate delivery gained 0.1 percent to $1,722.38. Bullion for December delivery gained 0.2 percent to $1,722.70 an ounce on the Comex in New York. Holdings in gold-backed exchange-traded products expanded to a record 2,588.24 metric tons yesterday, according to data tracked by Bloomberg. Platinum for immediate delivery gained 0.4 percent to $1,575.48 an ounce in London, after rising as much as 0.6 percent to the highest since Oct. 25. To contact the reporter on this story: Maria Kolesnikova in London at mkolesnikova@bloomberg.net To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net

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