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At 07:51 GMT, the spot gold price was up 0.1% to 1230.96 dollars an ounce. Tuesday, it reached its highest level since July 17, at $ 1239.68.
US gold futures fell 0.2% to 1233.90 dollars an ounce.
"Gold has benefited from the general weakness of equities, market hedging and risk aversion," said John Sharma, an economist at National Australia Bank. "An additional rise in risk aversion and geopolitical risk is possible."
Global equities suffered this week from concerns over US corporate profits and the financial situation of the Italian government.
Palladium rose 0.1% in terms of spot trading, to $ 1141.10 an ounce, after peaking at an all time high of $ 1,150.50 in the previous session.
UBS has raised its expectations for the price of palladium by stating that "the relentless exit of index funds predicts a larger-than-expected market deficit."
"However, as car sales decline in major markets, we will not continue to rise prices, but we will seek to increase exposure to any decline," the bank said in a note.
Silver rose 0.2% to 14.75 dollars an ounce, while platinum was established at 830.50 dollars.
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At 07:51 GMT, the spot gold price was up 0.1% to 1230.96 dollars an ounce. Tuesday, it reached its highest level since July 17, at $ 1239.68.
US gold futures fell 0.2% to 1233.90 dollars an ounce.
"Gold has benefited from the general weakness of equities, market hedging and risk aversion," said John Sharma, an economist at National Australia Bank. "An additional rise in risk aversion and geopolitical risk is possible."
Global equities suffered this week from concerns over US corporate profits and the financial situation of the Italian government.
Palladium rose 0.1% in terms of spot trading, to $ 1141.10 an ounce, after peaking at an all time high of $ 1,150.50 in the previous session.
UBS has raised its expectations for the price of palladium by stating that "the relentless exit of index funds predicts a larger-than-expected market deficit."
"However, as car sales decline in major markets, we will not continue to rise prices, but we will seek to increase exposure to any decline," the bank said in a note.
Silver rose 0.2% to 14.75 dollars an ounce, while platinum was established at 830.50 dollars.
