Gold prices rallied to record highs in Europe this morning on fears that moves by the Federal Reserve to tackle the sluggish U.S. economy will undermine the dollar, boosting investment in bullion as an alternative asset, Reuters reported. Spot gold hit a record $1,313.20 per ounce and was bid at $1,309.45 in Europe, against $1,307.40 late in New York on Tuesday. U.S. gold futures for December delivery rose $2.60 an ounce to $1,310.90. Gold’s strength also lifted other precious metals, with silver reaching a 30-year peak, palladium at its highest level since March 2008 and platinum at a four-month high.