Gold futures gained on Thursday in reaction to development over solution for the euro zone’s debt crisis. Investors were optimistic for the precious metal after the news that European Union leaders finally came with a bailout figure to tackle the Greece’s sovereign debt crisis.

Gold futures contract for December delivery gained 1.4 percent or $24.20 to settle at $1,747.70 per ounce at the Comex trading of the New York Mercantile Exchange. This was also the highest for the respective quarter in last five weeks.

Further weakening greenback was also attributed as the reason for boost in gold prices by most of the analysts. The dollar index DXY which measures the US dollar’s performance against its six major rival currencies fell to 74.930 on Thursday as compared to 76.207 on Wednesday.

Among other metals, silver futures contract for December delivery jumped 5.4 percent or $1.80 to $35.11 per ounce while copper futures contract for the same month delivery gained 5.8 percent to $3.69 per pound.

Platinum futures contract for January delivery gained 2.8 percent or $44.20 to settle at $1.641.40 per ounce. Palladium futures for December delivery jumped 3.7 percent or $23.85 to settle at $669.90 per ounce.