Gold traded at $1,000 an ounce in New York and rose to a record in London on speculation credit- market turmoil will spur demand for the metal as a haven from declines in stocks and the dollar.

Silver, platinum and palladium also advanced as the dollar fell below 100 yen for the first time since 1995 and to a record low against the euro after a Carlyle Group fund moved closer to collapse. Gold climbed 19 percent this year as the dollar fell and world equity markets declined.