Gold prices jumped to a six month high on Wednesday on concerns about global growth and a partial US government shutdown, boosting risk aversion and driving investors to turn to the precious metal as a safe haven.
Gold rose 0.4 percent to $1273.71 an ounce. The metal rose to $1274.68 in early trade, the highest since June 20. US futures rose 0.5% to $1277.6 an ounce.
Investors are concerned about global economic growth and therefore accept safe assets such as gold, said Yukichi Ekimizu, Tokyo branch manager at ICB Standard. "A sharp sell-off in equity markets has also pushed the precious metal higher.
Silver rose 0.9% to $ 14.86 an ounce while Platinum rose 0.6% to $787.49 an ounce and palladium rose 0.1% to $124.60 an ounce.
