Precious metals were lifted by the weak dollar and strength in base metals led by copper today, with silver hitting a 30-year peak and palladium a nine-year high. Gold was at its highest in three weeks.
The dollar weakened as falling US bond yields prompted traders to sell the greenback. Spot silver hit a 30-year high of $30.88 an ounce, before easing to $30.82. Spot palladium reached $795 while platinum rose to $1,767.5, the highest since 11 November.
Meanwhile copper hit a new record on the London Metal Exchange of $9,550 a tonne amid supply worries and buying by holders of strong Asian currencies. A weak dollar makes metals priced in dollars less expensive for holders of other currencies.
And spot gold reached a three-week high of $1,414.55 an ounce, before easing to $1,411.04.
Amid a lack of corporate and economic news, the FTSE 100 index in London was treading water again, edging down 1.18 points to 5995.18.
Investors are waiting for weekly initial jobless claims figures from the US which could shed some light on the health of the world's largest economy. A strong number could trigger some profit-taking in gold, analysts said.
