Platinum spiked to another record high above $1,800 an ounce in volatile trade on Tuesday, with South African mines reporting slow progress in jacking up production in the midst of an electricity supply crisis.

Platinum's rally lifted sister metal palladium to a six-year high but gold struggled after a drop to its lowest in nearly two weeks at $891.65 an ounce on Monday as investors booked profits from last week's record high of $936.50 an ounce.

Spot platinum hit an intraday high of $1,809 an ounce before Japanese-led selling dragged it down to $1,775/1,780 an ounce, down from $1,790/1,800 late in New York on Monday.

But with lingering supply worries, dealers said the upward trend was much intact for the metal, which has risen almost 17 percent this year.

"The demand is there. I think $2,000 seems to be the next target. Speculators are buying platinum," said Ronald Leung, director of Lee Cheong Gold Dealers in Hong Kong.

Palladium jumped as high as $426.50 before slipping to $419.00/423.00 an ounce, down from $423/428 late in the U.S. market.

Platinum and palladium are used in jewellery and in vehicle catalysts, where they help clean exhaust gases.

The worst was far from over for South African mines, which produce four-fifths of the world's platinum, after state power firm Eskom allowed them only limited increases in their electricity consumption.

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