Gold futures on the COMEX division of the New York Mercantile Exchange extended rally into Thursday, as the U.S. stock market continued increases and relative satisfaction regarding the day's Greek debt swap put positive momentum in the market.

The most active gold contract for April delivery rose 14.8 dollars, or 0.9 percent, to settle at 1,698.7 dollars per ounce.

Market analysts said that gold's rise continued the gains made Tuesday, and at Wednesday's close almost reached back above the 1, 700-dollar level. Thursday's deadline for the Greek debt swap passed with more positive feelings towards the European solution, which also brought about falling European debt yields.

Reports of an interest rate cut in Brazil also supported the gold market, and traders expected some signs that other banks might ease policy.

Traders noted that the positive atmosphere regarding gold and other markets will see a critical test Friday morning, when the U. S. Department of Labor releases the unemployment rate for February.

Other precious metals also saw gains in trading Wednesday amid bullish atmosphere. Silver for May delivery rose 24.6 cents, or 0. 73 percent, to 33.831 dollars per ounce. Platinum for April delivery gained 29.4 dollars, or 1.81 percent, to close at 1,656.7 dollars per ounce.