Gold jumped to a record high for a fifth straight trading day on Monday as the prospect of more declines in the U.S. dollar drove investors into the precious metal, with record exchange traded fund holdings helping silver to its highest in more than three decades. Heightened inflationary threats despite interest hikes by China and the European Central Bank boosted gold's safe haven appeal, while silver also attracted buying from investors looking for a cheaper alternative to bullion. The gold-to-silver ratio was at a 28-year low around 35. Spot gold added $1.35 to $1,474.05 an ounce by 0539 GMT, having risen as high as $1,476.21 after the euro jumped to a 15-month high against the U.S. dollar. "I think there is a good chance that gold could hit $1,500 an ounce within this quarter. And perhaps even higher if we see the weakness in the dollar persist and the Federal Reserve continues their relatively easy monetary policy," said Ong Yi Ling, investment analyst at Phillip Futures in Singapore. Heightened inflationary threats despite interest hikes by China and the European Central Bank boosted gold's safe haven appeal, while silver also attracted buying from investors looking for a cheaper alternative to bullion. The gold-to-silver ratio was at a 28-year low around 35. Spot gold added $1.35 to $1,474.05 an ounce by 0539 GMT, having risen as high as $1,476.21 after the euro jumped to a 15-month high against the U.S. dollar. "I think there is a good chance that gold could hit $1,500 an ounce within this quarter. And perhaps even higher if we see the weakness in the dollar persist and the Federal Reserve continues their relatively easy monetary policy," said Ong Yi Ling, investment analyst at Phillip Futures in Singapore. The ECB raised rates by 25 basis points at its April meeting last week and signaled it was ready to tighten further if needed to check rising prices, but in contrast, both the Fed and Bank of Japan are expected to keep interest rates near zero for an extended period of time. Janet Yellen, Fed Vice Chair, said on Saturday the U.S. economy is still not strong enough for the Fed to start reversing its extremely accommodative monetary policy. NY Fed chief William Dudley speaks later on Monday and should also sound dovish. U.S. gold futures for June rose $2.5 to $1,476.6 an ounce after rising to a record at $1,478 an ounce. The physical sector saw selling from Thailand and Indonesia, but volume was light as holders waited for more gains in gold prices before cashing in. Premiums were steady at between 70 cents and $1 an ounce to the spot London price in Singapore. "Selling started last week, but I don't think the quantity is huge. Thailand has quieted down a bit and I think because people are still bullish about gold," said a dealer in Singapore. "My premiums are unchanged at 70 cents," he added.