A day after recording significant gains due to increasing market uncertainty due to the Middle East conflict, the price of gold reached its highest level in more than a week on Tuesday.

U.S. gold futures rose 0.8% to $1,878.20. Spot gold rose 0.2% to $1,864.39 per ounce at 0117 GMT, reaching its highest level since September 29. While military clashes between Israel and the Palestinian Islamist group Hamas raised fears that a broader conflict could affect Middle East oil supplies and boosted demand for safe-haven assets such as gold, the price of gold closed up 1.6 percent on Monday, its biggest one-day jump in five months

Cash rose 0.2% to $21.94 per ounce, platinum rose 0.4% to $889.53, and palladium rose 1.3% to $1,154.34.