Gold rose to record highs for a second straight day on Wednesday, after the dollar fell on a disappointing private-sector jobs report that bolstered the view that the Federal Reserve must soon jump start the flagging economy. Palladium also rallied to its highest level in over nine years, fuelled by the prospects of strong growth in auto industry in China. Spot gold scaled a record high $1,349.80 an ounce earlier in the day. It rose 0.5 percent to $1,345.80 by 2:39 pm EDT.
US gold futures settled up $7.40 at $1,347.70 an ounce. COMEX open interest in gold rose to near last week's record at 619,408 lots, and the exchange estimated gold volume on Wednesday at 125,089 lots, 4.2 percent above its 30-day average, preliminary Reuters data showed.
Spot palladium rallied to its highest since July 2001, peaking at $591.50 an ounce. It was trading up 1 percent at $580.50 in late afternoon New York trade. Platinum hit $1,710.50 an ounce, the highest since mid-May. It rose 0.9 percent to $1,709. Spot silver rose to a fresh 30-year high at $23.16 an ounce. It was up 1.6 percent at $23.14 an ounce.
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