Gold for December delivery rose as high as $1,199.30 an ounce in electronic trading on Globex, marking a record.The front-month contract gained $13, or 1.1%, to $1,194.10 an ounce in recent trading.
Gold futures gained 0.6% on Monday, marking one of the best months in 10 years.
"Equity and broader risk sentiment has been more upbeat this morning, with markets buoyed by solid manufacturing data from China and the Reserve Bank of Australia's decision to increase interest rates for a third straight month," said James Moore, an analyst at TheBullionDesk.com in London.
Australia's central bank raised its policy cash rate Tuesday, as widely expected, by 0.25 percentage point to 3.75%, marking its third rate increase since September.
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