The precious metal is well up from Wednesday's 1,349.80 US dollars reached in New York trade. It opened at 1,347.00.

Dealers are buying as the dollar remains under pressure amid concerns over the global economy and as dealers look to invest in the safe haven in times of uncertainty.

The dollar fetched 82.84 yen in Tokyo trade, close to a 15-year low 82.75 hit briefly in New York on Wednesday and below the level at which Japan intervened for the first time since 2004 on September 15.

The euro was trading at a near eight-month high 1.3921 US dollars.