Gold Up 1.2 Percent at $1,197.30 per Ounce

On Tuesday morning, gold rose 1.2 percent, hitting $1,197.30 an ounce, according to Reuters. Meanwhile, US gold futures for February delivery rose $15, to $1,196.90 per ounce.

The increase came as the US dollar declined along with stock markets, and as investors sought secure assets on geopolitical concerns. “Gold … has been on something of a roller coaster for the past few days,” Ed Meir, an analyst at INTL FCStone Inc. (NASDAQ:INTL), told the news outlet. “We suspect that the dollar weakening against the yen may have triggered some buying and also equity weakness, particularly in many emerging markets.”