Gold ends 2-session slide as haven demand picks up

Gold futures finished higher Tuesday as investors rushed toward safety plays amid a global stock-market downdraft.

June gold GCM6, -0.22%  rose $10.20, or 0.8%, to $1,229.50 an ounce, and May silver SIK6, -0.37%  gained 17.2 cents, or 1.2%, to $15.12 an ounce.

Gold is getting a lift “from significantly higher risk aversion among market participants this morning,” said Commerzbank analysts in a note.

U.S. stocks ESM6, +0.42% headed south as European markets SXXP, +0.10% and most Asian markets lost ground. Analysts blamed the slide on oil prices falling, markets getting ahead of themselves with last month’s gains and worries about negative interest rates in places like Japan.

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