The most active gold contract for December delivery rose 35.5 U.S. dollars, or 2.11 percent, to close at 1,716 dollars per ounce.
Gold topped 1,700 dollars to settle at its highest price since Oct. 6.
Retreat in U.S. treasury yields also supported gold.
Investors are also waiting for October U.S. consumer price inflation data due out Thursday. The data may help guide the Federal Reserve's next decision on monetary policy.
The National Federation of Independent Business said Tuesday its Small Business Optimism Index fell 0.8 points to 91.3 in October to the lowest level since July.
Silver for December delivery rose 58.3 cents, or 2.79 percent, to close at 21.502 dollars per ounce. Platinum for January delivery rose 25.1 dollars, or 2.54 percent, to close at 1,014.5 dollars per ounce.
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