Gold futures settled above $1,300 an ounce for the first time since August after the European Central Bank expanded stimulus measures, boosting demand for the metal as a store of value.

Gold futures for February delivery rose 0.5 percent to settle at $1,300.70 an ounce at 1:42 p.m. on the Comex in New York. Aggregate trading was 51 percent more than the 100-day average, according to data compiled by Bloomberg.

Bullion priced in euros jumped to the highest since April 2013, extending the year™s advance to 17 percent.

On the New York Mercantile Exchange, palladium futures for March delivery rose 0.5 percent to $772.30 an ounce. Platinum futures for April delivery rose 0.7 percent to $1,284.80 an ounce.

Source: Bloomberg