Gold and silver futures moved in a bullish rally on Tuesday and reached their highest in one month. Gold futures contract for December delivery jumped 2.9 percent or $48.10 to settle at $1,700.40 per ounce at the Comex trading session of the New York Mercantile Exchange. This was the highest settlement since September 22^nd, 2011.

Silver futures also followed the gold bullish rally and the December contract gained 4.5 percent or $1.41 to settle at $33.05 per ounce.

European debt crisis mainly resulted in appreciation of gold futures due to its safe haven status. Chief technical strategist, Richard Ross from Auerbach Grayson & Co commented, “Gold has kind of been like a sleeping giant for the last month or so.”

Among other base metals copper futures contract for December delivery fell 0.8 percent or $0.03 to $3.42 per pound however the same contract surged 7 percent on Monday.

Platinum futures contract for January delivery surged 1.7 percent or $26.80 to $1,568.80 per ounce on Tuesday while its sister metal palladium for December delivery advanced 2.1 percent or $13.60 to $652.10 per ounce.