Gold rose for the first time in three sessions on Tuesday, as the sell off in equities boosted some haven demand on bullion.
The precious metal rose to a high of $1099.06 an ounce, while currently trading around 1095.52, compared to the session’s opening at $1094.51.
The yellow metal rose on the tumble in Asian shares, amid persisting worries from China and ongoing fall in oil prices.
Japan’s Nikkei index led the decline in Asia with a 2.70 percent drop to end the session at 17,218.96, the lowest level in nearly a year.
Still, there are worries from China despite the higher fixing of the yuan against the U.S. dollar, ahead of Wednesday’s trade data that may show more drop in exports and imports.
The U.S. dollar ticked down against a basket of major currencies to hover around 98.87, compared to the session’s opening at 98.80.
The dollar’s retreat has helped demand on gold as an alternative investment, where the green currency rose on Monday.
Crude oil fell for a seventh straight session to trade around $30.66 a barrel, trading near its lowest level in 12 years.
Worries of slower demand from China and oversupply, which will increase further with the return of Iran to the market, have continued to push crude prices lower.
