The price of gold continues to advance as a weaker dollar makes the metal a more attractive investment, Bloomberg reported.

Gold for immediate delivery rose 1.4 percent this week – the third straight weekly gain –to $1,506.85 an ounce Thursday evening. Earlier in the day, gold climbed to an all-time high of $1,512.47 an ounce.

Silver for immediate delivery rose 2.1 percent to $47.25 an ounce, the highest price in 31 years. The metal climbed 11 percent this week, a fifth weekly advance and the largest weekly gain since Feb. 18.

“The weak dollar is having the most influence on gold at the moment,” said Chae Un Soo, a Seoul-based trader at Korea Exchange Bank Futures Co. “The market is getting more jittery now that we have sovereign-debt concerns about the U.S. in addition to Europe and the Middle East problems, which increasingly boosts safe-haven demand for gold.”

Spot palladium fell 0.1 percent to $767.50 an ounce. Cash platinum was 0.3 percent higher at $1,822.50 an ounce.

The markets are closed today in observance of Good Friday.