Gold prices rose slightly on the European market on Tuesday to keep gains for a second consecutive day, near a three-month high, supported by a weaker US dollar against a basket of currencies, along with active demand for the precious metal as a safe haven amid high market risk.

Gold prices rose by more than 0.1% to 10:30 GMT to trade at $ 1,228.35 per ounce from the opening level of $ 1,226.75 and recorded the highest level of $ 1,230.17 and the lowest level of $ 1,225.03.

Yellow metal prices ended yesterday’s trading up 0.75%, the fourth gain in five days, and the highest in three months at $ 1,233.26 an ounce, as the US dollar fell, and the activity of purchases of safe havens assets.

Gold prices rose 1.25% last week, the second weekly gain in a row, supported by the fall of the US currency, and the purchase of safe haven assets accelerated after a large sell-off in the global equity markets.

The dollar index fell by 0.1% on Tuesday, extending losses for a second consecutive day, reversing the continued decline of the US currency against a basket of currencies, after data below expectations for US retail sales during September.

The risk of the global economic slowdown, the difficulty of concluding a deal to separate Britain from the European Union, and the global geopolitical tensions around Saudi Arabia after the disappearance of the journalist Jamal Khashfji in Istanbul, Turkey.

Gold holdings in the SPDR Gold Trust Fund  rose yesterday by 4.12 metric tons, the second consecutive daily increase, to 748.76 metric tons, the highest since August 31.