Gold futures for December delivery gained $39.70, or 2.1 percent, to close at $1,891.90 an ounce at 2:05 p.m. on the Comex in New York, the highest settlement ever. The precious metal rose 6.3 percent last week, the most since February 2009. It has advanced 16 percent this month.

Gold has gained 33 percent this year. The MSCI All- Country World Index fell 12 percent, the Standard & Poor's GSCI Index of 24 commodities rose 2.4 percent, while Treasuries returned 7.7 percent, a Bank of America Merrill Lynch index showed.

Silver futures for December delivery in New York gained 89.8 cents, or 2.1 percent, to close at $43.365 an ounce on the Comex. Earlier, it jumped to $44.10, the highest since May 3.

Platinum futures for October delivery advanced $30.80, or 1.6 percent, to $1,905.70 an ounce on the New York Mercantile Exchange, after touching $1,909.90, the highest since July 17, 2008. The metal gained for the 11th straight session, the longest rally since October 2007.

Palladium futures for September delivery rose $16.30, or 2.2 percent, to $765.10 an ounce on the Nymex.

The dollar has declined 6.3 percent against a basket of six currencies this year. Gold is in the 11th year of a bull market, the longest winning streak since at least 1920 in London, as investors seek to diversify their holdings away from equities and some currencies. Global stocks earlier this month slipped to an 11-month low, and bullion reached all-time highs today in euros, British pounds and Swiss francs.

The metal has gained 33 percent this year. The MSCI All- Country World Index fell 12 percent, the Standard & Poor's GSCI Index of 24 commodities rose 2.4 percent, while Treasuries returned 7.7 percent, a Bank of America Merrill Lynch index showed.

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