Silver touched $28.46 an ounce, the highest since March 1980, palladium saw $728.22 an ounce, its highest since April 2001. Platinum hit $1,790 an ounce its highest since July 2008.

Spot gold hit $1,422.30 a troy ounce. The precious metal was bid at $1,418.80 an ounce at 1256 GMT from $1,409.09 late in New York on Monday. U.S. gold futures also hit a record $1,422.10 an ounce.