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Gold Prices rose to $1523 - their highest level for two weeks - in Tuesday morning London trading, while stocks and commodities were flat.
Gold Prices at Tuesday morning's London Fix hit record Euro and Pound Sterling highs - €1078.85 and £942.22 per ounce respectively.
The US Dollar ticked lower after a Federal Reserve official suggested monetary policy may remain loose for an extended period.
"Overall, gold is benefitting again from currency risk, and is expected to out-perform silver," says one London-based bullion dealer.
Silver and Gold Prices "were basically a reflection of foreign exchange and equity markets" in early trading Tuesday, according to a dealer in Hong Kong, who described the action in Asia as "lethargic".
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Silver Prices climbed one Dollar to $36 an ounce Tuesday morning - still 27% off last month's all-time high - before slipping back slightly.
The US Federal Reserve will consider keeping interest rates "on hold" for an "extended period" to give the Fed "more time to assess economic conditions" when its latest round of stimulus measures ends next month, Federal Reserve Bank of St. Louis president James Bullard said on Monday.
"Fed policy is determined by inflation and unemployment in the United States," wrote Christina Romer, former economic adviser to President Obama, in the New York Times at the weekend.
"But if Mr. Bernanke could discuss the exchange rate openly, he would probably tell you that one way any monetary expansion helps a distressed economy is by weakening the Dollar," added Romer, arguing that a weaker Dollar would boost US exports.
"Given the desperate need for jobs...we are almost surely better off with a weaker Dollar for a while."
Across the Atlantic, ratings agency Moody warned Tuesday that a Greek sovereign debt default "would have implications for the creditworthiness of [government bond] issuers across Europe."
"If there were to be a Greek default there could potentially be multi-notch downgrades to the weakest sovereigns," Alastair Wilson, chief credit officer for Europe, Middle East and Africa at ratings agency Moody, told Reuters on Tuesday.
Standard & Poor's and Fitch, the two other major ratings agencies, have both cut their ratings for Greek debt within the last month.
"The Euro may not stop falling until European policymakers come up with a more reassuring stance on debt problems," reckons Ayako Sera, Tokyo-based market economist at Sumitomo Trust and Banking.
