Platinum hit the record in four weeks after the dollar slid versus the euro, increasing demand for precious metals as an alternative investment. The greenback slid 0.8 percent against the euro. April futures for platinum delivery added $30 (2.1 percent) to $1,432.90 per ounce on the New York Mercantile Exchange.
Gold prices reached the record level in a week as the dollar fell, spurring demand for precious metals as an inflation hedge. The precious metal also gained as new home purchases in the U.S. decreased last month and consumer spending increased less than expected, boosting demand for the metal as a haven. February futures for gold delivery increased $7.30 (0.7 percent) to $1,094 per ounce on NYMEX.
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