SINGAPORE (Commodity Online) : Gold extended gains in Asian trade Thursday despite dollar gains as concerns regarding euro zone debt crisis heightened. Spot gold was seen trading at $1391.42 an ounce at 1.00 p.m Singapore time while Gold for February delivery climbed 0.3 percent to $1,391.90 an ounce on the Comex in New York. Analysyts said the precious yellow metal also took advantage of growing tensions in the Korean peninsula apart from euro crisis while China’s increase imports of the metal added to its appeal. China’s gold imports in the first 10 months of this year jumped to 209 tons compared with 45 tons in all of 2009, the Shanghai Gold Exchange said. Bullion has gained 27 percent this year, reaching a record $1,424.60 an ounce on Nov. 9. Meanwhile gold. Holdings reached a record 2,104.65 tons on Oct. 14. Silver holdings climbed to 14,851.49 tons from 14,780.04 tons, data shows. Silver for immediate delivery climbed 0.2 percent to $28.5131 an ounce after touching $28.8375 yesterday, the highest level since Nov. 9, when the price reached a 30-year high. Palladium rose 0.5 percent to $738.50 an ounce after jumping 5 percent yesterday. Platinum advanced 0.4 percent to $1,693.50 an ounce. Both metals are used mostly to make jewelry and pollution-control devices for cars. On Wednesday, the most active gold contract for February delivery added $2.2 or 0.2 percent, to $1,388.3 dollars per ounce. Earlier the prices reached $1,398.30 per ounce in electronic trading overnight, the highest point since Nov. 12. Silver futures for March delivery climbed 20.1 cents, or 0.7 percent, to $28.413 per ounce. January platinum rose $17.6 or 1.1 percent, to $1,684 per ounce.

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