Gold futures jumped more than $23 per ounce and made their new record high on Wednesday as investors were uncertain over euro zone’s debt situation and shifted their focus towards the base metal due to it safe haven status. Moreover Bernanke’s latest comments gave hints for further demand of stimulus money which creates a negative stir among traders.

Head of research at Bullion Vault, Adrian Ash commented, “Inflation and deflation have now been slugging it out for over a decade, and physical gold remains an obvious, sensible refuge for private savings caught in the middle, a European debt-default, plus QE3 in the States, would make the perfect storm yet again,”

Gold futures contract for August delivery soared 1.5 percent or $23.20 to $1,585.50 per ounce on Comex trading session of New York Mercantile Exchange.

Among other base metals, silver futures contract for September delivery gained 7.1 percent or $2.52 to $38.15 per ounce on Wednesday. Copper futures contract for September delivery advanced 0.3 percent to $4.404 per pound.

Platinum futures contract for October delivery gained 1.8 percent or $30.70 to $1,767 per ounce while its sister metal palladium futures contract for September delivery jumped 2.2 percent or $16.55 to $784 per ounce.