Shares in Asia and U.S. rose before President George W. Bush announces steps that may help people with subprime mortgages keep their homes. Platinum is heading for a monthly decline as weakening demand for cars and trucks forced General Motors Corp. and Ford Motor Co. to cut production.

``The speculation is that demand from car manufacturers is going to increase due to continued robust growth in Asia and also in the U.S.,'' said Peter Fertig, a consultant to Dresdner Kleinwort in Hainburg, Germany. The Bush announcement ``is good for the economy because it would take pressure off house prices.''

Platinum for immediate delivery gained $12.50, or 1 percent, to $1,272.25 an ounce as of 12:48 p.m. in London. The metal has climbed 1.9 percent this week, paring this month's loss to 1.3 percent.

Toyota Motor Corp. and Honda Motor Co. are making more cars, increasing demand for platinum used in catalytic converters to limit tailpipe emissions. Automakers accounted for 62 percent of platinum demand last year, according to London-based metals trader Johnson Matthey Plc.

Palladium rose $3.75 to $333 an ounce. The metal has fallen 8.6 percent this month, the biggest monthly decline since December 2004. Palladium is also used in vehicles to control emissions.

The 9:45 a.m. ``fixing,'' the prices used by some mining companies to sell production, rose $6 to $1,269 for platinum and dropped $1.50 to $329 for palladium.

Source: National Jeweler Network