The price of gold struck an all-time high above $1,300 an ounce today after the dollar weakened following poor US data. Gold hit a record $1,300.07 an ounce early this afternoon on the London Bullion Market. The precious metal is being boosted by its safe-haven status amid an unclear economic outlook. Gold also managed to bring its sister metal silver to a 30-year peak as investment demand propelled precious metals higher. Silver jumped to $21.41 an ounce today - its highest level since October 1980. Analysts said that the trend in the gold market continues to be fuelled by the high level of uncertainty regarding the US and European economies. Gold and silver were also driven by keen demand from exchange traded funds (ETFs). ETFs allow traders to invest money more easily in commodities, without trading on the futures market. They are traded like shares and are widely regarded as an inexpensive and low-risk way of investing. Since this time last year, gold and silver prices have soared by about 30%. Analysts said that silver was enjoying 'robust investor demand' and industrial demand as the metal is widely used in the manufacturing sector, as well as to make jewellery.