US gold futures rose above $1,500 an ounce for the first time on Wednesday, extending this week's run of record highs as investors sought to hedge growing inflation risks and bought into a broad commodities rally. COMEX June gold futures settled up $3.8 at $1,498.9 an ounce. Ranged from $1,493.8 to $1,506.5 an ounce - a record.
Spot gold gained 0.4 percent to $1,499.42 an ounce by 3:13 pm (1913 GMT). COMEX May silver finished up 54.8 cents or 1.3 percent at $44.461 an ounce, tracking gold. Range extended from $43.835 to $45.400 an ounce. Spot silver set a 31-year high of $45.37 an ounce, and was later up 2.6 percent at $45.03. NYMEX July platinum finished up $31.5 or 1.8 percent at $1,802.80 an ounce on commodities rally. Spot platinum rose 2.1 percent to $1,797.94 an ounce. NYMEX June palladium closed up $27.8 or 3.8 percent at $758.90 an ounce, following platinum. Spot palladium jumped 4.1 percent to $756.47.