Mubasher: Gold prices rose on Tuesday to its highest level in three months, gaining around $12 due to a strong decline in stock markets.

A decrease in treasury yields and a mixed performance by the dollar helped support the precious metal gains.

Geopolitical tensions in the Middle East and Europe, after the European Commission rejected the Italian government’s budget proposal increased demand for safe haven.

Gold futures for December delivery rose by 1% or $12.20 per ounce to $1,236.80 per ounce, its highest level since 16 July.