The price of silver and gold reached the highest levels since 1980 in trading today, while platinum smashed another record owing to geopolitical and economic concerns.
On the London Bullion Market, the price of gold reached $724.70 an ounce, which was last reached in January 1980, or more than 26 years ago. The precious metal has rocketed by almost 40% since the start of 2006.
Silver prices broke through $15 an ounce for the first time since December 1980, reaching as high as $15.06 an ounce.
Meanwhile, platinum climbed to a record high $1,287.50 an ounce on the London Platinum and Palladium Market this afternoon.
All three precious metals are supported by a weakening US dollar, tensions over Iran and inflation fears prompted by high oil prices. A weaker dollar makes commodities priced in the US unit on world markets more attractive to buyers using other currencies.
Investors seek refuge in precious metals - particularly gold - that are seen as a safe store of value in times of higher inflation and geopolitical uncertainty, such as the current Iranian nuclear energy crisis.
Metals have also forged higher this week as low global inventories and supply disruptions have prompted frenzied speculative buying.
