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. Spot gold traded at $1,395.04 an ounce at 2:43 p.m., against $1,392.25 late in New York on Thursday, having earlier hit a record of $1,397.25. U.S. gold futures for December delivery traded up $13 at $1,395.70. Silver hit a 30 year peak at $26.89 an ounce, and was last traded at $26.84 against $26.33. Palladium peaked at a nine year high of $696.50 an ounce and was later at $694.97 an ounce against $680.50.