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Gold smashed records this week and silver hit 31-year highs as the safe-haven metals were boosted by a 'perfect storm' of fears over Middle East unrest, Portugal's debt and the Japan nuclear crisis.
The pair won further support as the dollar fell against the euro following weak manufacturing data in the United States before the currency firmed at the close on strong US growth figures.
"Safe haven buyers and a persistently weak US dollar continues to push precious metals to new highs," said Spread Co analyst Ian O'Sullivan.
"We are seeing almost a 'perfect storm' for metals prices as ongoing chaos in the Middle East, the earthquake/nuclear disaster in Japan and continuing worries over the European economy with Portugal and Ireland's problems.
"These, along with the continuing weakness of the dollar are driving investors to these 'safe haven' assets."
Gold hit a record $1,447.82 an ounce on the London Bullion Market and silver jumped to $38.16 an ounce - its highest level since February 1980.
