Platinum rose, matching a record, after the dollar declined for a second day against the euro, enhancing the appeal of the metal as an alternative investment. Palladium also gained.

Precious metals, including gold and silver, often track the euro. Gold gained as much as 1.2 percent today. Platinum is up 22 percent this year, while the euro has advanced 7.1 percent against the dollar.

Platinum futures for January delivery rose $18.40, or 1.3 percent, to $1,398.00 an ounce on the New York Mercantile Exchange. Earlier, the metal reached $1,402, matching the record on Oct. 1, when the euro increased to $1.4283, the highest ever.

Palladium futures for December delivery gained $11.75, or 3.2 percent, to $379.15 an ounce. The metal has climbed 12 percent this year.

The metals are used in vehicle-emission filters and jewelry.

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