Spot gold shot up ⁠2.7% to $5,542.29 an ounce by 0149 GMT, after hitting a record $5,591.61 earlier in the day. Meanwhile, with elevated gold prices, customers have been cramming into stores in Shanghai and Hong Kong that sell the precious metal, with some betting it could rise even further. Spot silver was up 1.1% at $117.87 an ounce after hitting a record high ⁠of $119.34 earlier. Prices have been helped by demand from investors looking for cheaper alternatives to ‌gold, along with supply shortages and momentum buying. Spot platinum rose 1% to $2,723.40 an ounce, after hitting a record high of $2,918.80 on Monday, while palladium fell 1.6% to $2,041.20.