Gold settles at a two-week high as markets remain rattled

Gold futures settled at their highest level in about two weeks on Tuesday, as uncertainty about China’s economy and tensions in the Middle East lingered a day after a global stock-market rout.

February gold GCG6, +0.11% picked up $3.20, or 0.3%, to settle at $1,078.40 an ounce—its highest settlement since Dec. 21 when gold ended at $1,080.60.

“Unrest in the Middle East and weak Chinese economic data released Monday are working in favor of the yellow metal,” said Jim Wyckoff, senior analyst at Kitco.com.

Equities saw a global selloff Monday, sparked by worries about an economic slowdown in China and sectarian tensions between Iran and Saudi Arabia, which helped drive volatility in crude oil CLG6, +0.25%

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