Gold prices are moving higher on Tuesday, with traders seeking the safe haven of the yellow metal, after global stock markets tumbled amid mounting worries about geopolitical tensions and uncertainty about near term growth.
Gold futures for December are up $16.20, or 1.33% at $1,237.40 an ounce.
Silver futures for December are gaining $0.080, or 0.55%, at $14.736 an ounce.
Meanwhile, copper futures for December are down $0.011, or 0.40%, at $2.763 per pound.
The alleged killing of journalist Jamal Khashoggi inside the consulate at Istanbul and the resultant diplomatic tensions in Saudi Arabia are the prime reasons for the sell-off in global stock markets.
Further, worries about Italy's budgetary woes, the U.S.-China trade disputes and some disappointing earnings reports are also spooking the markets in Asia and Europe. U.S. stock futures have tumbled today, prompting investors to switch back to relatively safer yellow metal.
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