Biological synapses store multiple memories on top of each other in a palimpsest fashion and at different time scales. Palimpsest consolidation is facilitated by the interaction of hidden biochemical processes governing synaptic efficacy during varying lifetimes. This arrangement allows idle memories to be temporarily overwritten without being forgotten, while previously unseen memories are used in the short term. While embedded artificial intelligence can greatly benefit from this functionality, a practical demonstration in hardware is missing. Here, we show how the intrinsic properties of metal-oxide volatile memristors emulate the processes supporting biological palimpsest consolidation. Our memristive synapses exhibit an expanded doubled capacity and protect a consolidated memory while up to hundreds of uncorrelated short-term memories temporarily overwrite it, without requiring specialized instructions. We further demonstrate this technology in the context of visual working memory. This showcases how emerging memory technologies can efficiently expand the capabilities of artificial intelligence hardware toward more generalized learning memories.