Gold rose in price to a nine-day high on Wednesday, after coordinated interest rate cuts by major central banks failed to restore confidence to financial markets.
US gold futures rose 2.8% and silver jumped 3.4% as investors continued to flee the stock market in the world's worst financial crisis in nearly 80 years.
December gold reached $US924.90 - its highest since 29 September.
It settled $US24.50 higher at $US906.50 an ounce on the COMEX division of the New York Mercantile Exchange.
Spot gold rallied to $US920 an ounce and was last quoted at $US913.80 an ounce, up 3.1% from $US886.60 at Tuesday's New York close.
Spot gold has risen 25% since mid-September but remains well below a record high of $US1,030.80 an ounce in March this year.
December silver jumped US43 cents to $US11.81 an ounce. Spot silver went out at $US11.74 an ounce.
Platinum fell, ending the day at almost $US990.50 an ounce, down from $US1,004.00 amid heavy selling. It tumbled to $US920 an ounce on Monday - its lowest level since November 2005, due to poor car sales, especially in the United States.