Spot silver hit a 31-year high, while gold traded less than half a percent from a record high struck this week, as tensions in the Middle East underpinned safe-haven demand and surging oil prices helped. Spot silver struck $34.74 an ounce, its highest since early 1980. It was trading at $34.46 at 0637 GMT. US silver futures rose to $34.74, and weakened a bit to $34.49.
Spot gold hit an intra-day high of $1,434.45, just 20 cents below the record hit in the previous session. It had since eased to $1,428.94.