Gold hit a record high on Friday as the move by the U.S. Federal Reserve to buy more government bonds raised inflation expectations and left investors betting on more dollar weakness ahead.
Gold for December delivery added $14, or 1%, to $1,396.40 an ounce on the Comex division of New York Mercantile Exchange.
The metal went from losses to subdued gains to rally in less than three hours of floor trading.
Quantitative easing gave investors a fresh reason to sell the dollar and seek a hedge against inflation in gold.
Silver and copper also gained on Friday. Silver for December delivery surged 81 cents, or 3.1%, to $26.86 an ounce, a fresh 30-year high for the metal.
December copper added 7 cents, or 1.8%, to $3.98 a pound, its best since May 2008.
