"fiscal cliff." That's boosting demand for the metal as a safe haven.
February for Gold delivery rose $3 to $1,663.70 an ounce, a gain of 0.2 percent. Gold started the day lower before Reid's comments. Demand for gold was also bolstered by a report showing consumer confidence fell to its lowest level since August.
Silver, copper and palladium also advanced in other metals trading.
In grain trading wheat, corn and soybeans all fell, extending recent declines.