Gold broke the $900 per ounce plane once again and platinum peaked to a new historic record today. Gold had tumbled for a time this week but the Federal Reserve’s unexpected slashing of interest rates Tuesday helped change the momentum.

Spot gold hit an earlier high of $910.50 an ounce and was at $907 by 1:56 p.m. EST for a rise of $22.20 over yesterday. At the same time, spot platinum was at $1606 per ounce and up $56 compared to yesterday.

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Platinum hit a record high as strong industrial demand and supply fears drove investors to buy.

Spot platinum made it to $1,519 an ounce, breaking the $1,500 barrier for the first time on Monday.

It then pulled back slightly for the night, yet was still sitting at $1507 an ounce at 2:20 p.m. (ET on Tuesday).

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