Bullion powered to a lifetime high for a fifth consecutive session on Thursday on a sharply weaker dollar, while lingering tensions in the Arab world, worries about the eurozone crisis and US fiscal health offered additional support. Spot gold rose to a record high of $1,508.50 an ounce and stood at $1,506.70 an ounce by 0607 GMT, up $8.55 an ounce.
US gold futures also hit a lifetime high at $1,509.5 an ounce. Spot silver rose as high as $46.05 an ounce, its strongest since 1980, when the Hunt Brothers of Texas cornered the silver market.