Gold futures gained on Tuesday as investors were uncertain on surging US stock markets and global economy. Investors shifted their focus towards the safe haven status of gold. Senior market strategist, Charles Nedoss, from Olympus Futures in Chicago commented, “It all comes to disbelief the [Standard & Poor’s 500 Index] will hold up at 1,200, there’s still a lot of uncertainty out there.”

Gold futures contract for December delivery gained 2.1 percent or $38.20 per ounce on Comex division of New York Mercantile Exchange.

Gold was about to reach its record high at $1,900 per ounce last week but witnessed correction which according to many analysts was overdue and is a healthy sign. Moreover, investors were also shaken as euro zone’s economic sentiment declined to its 17 year low which further attracted buyers for precious metals.

Among other precious metals silver futures contract for September delivery gained 2.1 percent or $0.85 to $41.40 per ounce. Copper futures contract for September delivery surged 0.8 percent or $0.03 to $4.12 per pound which was also its highest in last three weeks.

Platinum futures contract for October delivery advanced 1.5 percent or $28.10 to $1,853.10 per ounce while palladium for September delivery jumped 3.1 percent or $23.10 to $777.05 per ounce which happens to be its highest since August 3^rd, 2011.