TOKYO, Jan. 13 -- Spot palladium and platinum rose more than 1 percent to multi-month highs on Tuesday as buying continued after last week's launch of the first U.S.-based exchange-traded funds backed by the metals. [ID:nLDE60A1IE]

Spot palladium XPD= stood at $438 per ounce as of 0738 GMT, compared with New York's notional close of $431, after rising as high as $439, its highest since July 2008.

Spot platinum XPT= rose 1.8 percent to $1,618 per ounce after hitting a high of $1,620, its highest since Aug 2008.