Gold prices rose Wednesday, after hitting a three-month high in the previous session, boosted by the gloom of the global political and economic landscape, boosting the metal's appeal as a safe haven.
At 07:51 GMT, the spot price of gold was up 0.1 percent at $ 1230.96 an ounce. On Tuesday, it touched its highest level since July 17, at $ 1239.68.
US gold futures fell 0.2 percent to $ 1233.90 an ounce.
"Gold has benefited from overall weakness in stocks, coverage of markets and risk aversion," said John Sharma, economist at National Australia Bank. "There is a possibility of further upside amid increased risk aversion and geopolitical risk."
Global stocks suffered this week on concerns about US corporate earnings and the financial situation of the Italian government.
Palladium rose 0.1 percent in spot trade to $ 1141.10 an ounce after hitting an all-time high of $ 1150.50 during the previous session.
UBS raised its forecast for the palladium price, saying "the unrelenting exit of index funds is predicting a broader market deficit than we expected."
"However, as car sales shrink in major markets, we will not pursue the price rally, but we will look to increase exposure on any decline," the bank said in a note.
Silver rose 0.2 percent to $ 14.75 an ounce, while platinum settled at $ 830.50.