Precious metals futures soared Friday on what analysts said is a growing belief that the rate of inflation is likely to increase.
All of the metals posted strong gains in active markets, with platinum up the daily allowable limit of $25 an ounce.
In some other markets, soybeans were higher and U.S. Treasury bonds were sharply lower.
The action in metals can be traced to remarks made Thursday by Treasury Secretary James A. Baker III, according to John Norris, chief precious metals trader with Citibank in New York.
Baker said the dollar will have to fall further in relation to foreign currencies to improve this country's balance of trade, unless Germany and Japan cut their interest rates.