The price of gold has hit another record peak of $891.70 an ounce in London, boosted by high oil prices, US economic troubles and political concerns.
Platinum rallied to its own historic high of $1,563.25 an ounce, also in London trading. After striking historic levels, the price of gold settled back to $887.53.
Traders are investing heavily in gold as they search a safe haven amid financial uncertainty and global unrest.
In addition, surging oil prices were encouraging gold buying because the yellow metal is widely regarded as a defence against rising inflation, which in many countries is being driven by the soaring cost of crude. A weak US currency has also made gold more affordable for buyers using stronger currencies.
Platinum spiked because of the weak dollar and tight supplies amid strong demand for the white metal that is used to make jewellery and catalytic converters, or anti-pollution devices in vehicles.
