Gold futures rebound, end back above $1,200

Gold futures on Tuesday recouped all of what they lost a day earlier, reclaiming the $1,200 level as tensions in the Middle East and nagging worries over debt woes in Greece helped lift safe-haven investment demand for the metal.

Gold for June delivery on Comex GCM5, -0.33%  rose $9.40, or 0.8%, to settle at $1,203.10 an ounce after losing 0.8% on Monday. May silver SIK5, -0.49%  rose 11.9 cents, or 0.8%, to $16.008 an ounce.

Added to all that, India celebrated its Akshay Tritiya holiday on Tuesday, which usually lifts demand for gold by nearly 20%, according to Aslam.

In other metals trade, July platinum PLN5, -0.50%  rose $3.70, or 0.3%, to $1,152.50 an ounce, while June palladium PAM5, -0.94%  gained $2.15, or 0.3%, to $774.55 an ounce.

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