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Gold rose to a two-month high after Federal Reserve Chairman Ben S. Bernanke said he sees signs the U.S. economy is improving, boosting prospects for commodity demand, Bloomberg reported.

"Indicators of spending, production, and job-market activity have shown some signs of improvement," Bernanke said today in prepared testimony to the House Budget Committee in Washington.

Bloomberg said gold futures for April delivery gained 0.6% to settle at US$1,759.30 an ounce at 1.35 p.m. on the Comex in New York, after reaching US$1,763.80, the highest since Dec. 2. The metal climbed 11% last month, the biggest January rally since 1983.

Bloomberg said gold also got a boost from investors seeking a haven against inflation, after Bernanke cautioned that the U.S. outlook is still "uncertain," boosting speculation that the Fed will increase stimulus measures to continue the expansion. Last month, the central bank pledged to keep the benchmark U.S. interest rate low until at least late 2014.

Silver futures for March delivery climbed 1.1% to US$34.175 an ounce in New York, after touching US$34.35, the highest since Nov. 16.

On the New York Mercantile Exchange, platinum futures for April delivery advanced 0.4% to US$1,629.90 an ounce, climbing for the second straight day. Palladium futures for March delivery rose 1.6% to US$707.65 an ounce, jumping the most in more than a week.

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