Gold futures climbed to their best level since mid-November, finding firmer footing as investors remained concerned about Greece’s debt write-downs. Gold holdings of SPDR gold trust, the largest ETF backed by the precious metal, increased to 1,277.13 tons, as on Feb 2.

Silver holdings of ishares silver trust, the largest ETF backed by the metal, increased to 9,621.94 tons, as on Feb 2.

The dollar index, which measures the US unit against a basket of six major currencies, traded at 78.992, up from 78.925 in late North American trading Wednesday.

Federal Reserve Chairman Ben Bernanke defended the US central bank's policies against charges from Republican lawmakers that they risked sparking inflation, saying the economy still needs plenty of support.

Copper declined for the fourth time in 5-sessions in New York, amid signs that demand may ease in China, the world’s biggest buyer of industrial metals. Lead and aluminum fell more than 3% on LME.

Copper futures for December delivery closed lower by 1.6% at $3.7810 per pound on the COMEX division of the New York Mercantile Exchange. Copper premiums in Shanghai, the main hub in China for importing the metal, have dipped below $100 per metric ton for the first time since August as stockpiles at local bonded warehouses surges.