Meanwhile China has signalled its push to regulate sweeping parts of the economy, which has jolted markets, will be deep and sustained over the next five years, Bloomberg reported.
The gold price has climbed to US$1,751 an ounce on the spot market.
"The gold bulls were hurt in Monday's liquidation dump, but have picked themselves up, dusted themselves off and recognising the forced nature of the flow on Monday bought into weakness," Pepperstone head of research Chris Weston said.
Gold majors Newmont and Barrick Gold rose more than 2% in New York and Toronto, respectively.
There were mixed moves among mining majors in London, where Glencore gained 3.3% and Rio Tinto lost 1%.
The S&P 500 and Dow Jones Industrial Average rose slightly to fresh highs.
Iron ore continued its slide, losing circa 3% for 62% Australian fines to $163 per tonne, according to MySteel.
Finally in a sign of the times, Recharge Resources (TSXV: RR) - formerly Le Mare Gold - shot up 55% to C15.5c yesterday as it launched a new website to reflect its battery metals-focused rebrand.