March silver SIH5, +0.48% jumped 18 cents, or 1.1%, to settle at $15.93 an ounce.
January platinum PLF5, +0.38% rose $3, or 0.3%, to end at $1,199.50 an ounce, while March palladium PAH5, +0.61% shed $4.75, or 0.6%, to settle at $779.25 an ounce.
High-grade copper for March delivery HGH5, -0.03% rose by a penny, or 0.3%, to settle at $2.87 a pound.
Gold futures switched between small gains and losses Wednesday in electronic trading, after briefly jumping above the key round number of $1,200 in the wake of what some analysts described as a more-dovish-than-anticipated Federal Reserve statement.
Gold for February delivery GCG5, +0.28% was last down $2.70, or 0.2%, to $1,191.60 an ounce. Before the Fed release hit at 2 p.m. Eastern, February gold had settled slightly higher but under $1,200 — up 20 cents to $1,194.50 an ounce, snapping a five-day losing streak.
Asian markets rallied on Thursday with investors rushing back after a recent sell-off, spurred by a Wall Street recovery and an indication from the US Federal Reserve that interest rates will not likely rise until mid-2015.
While bank policymakers were reticent to give a firm date, their language indicated a change in tack, which analysts said suggested a rise in the first six months of the year. That lit a fire under the dollar.
Easing concerns about Russia's economy and a pick-up in oil prices also provided support to regional shares, with bargain-buyers making their move.
Tokyo surged 2.37 per cent as the greenback advanced against the dollar.
Hong Kong rose 1.20 per cent, Sydney added 1.43 per cent and Seoul was 0.38 per cent higher while Shanghai edged up 0.38 per cent.