Gold prices staged a solid rebound on Tuesday as a weaker trading session in Asia and further depreciation in the Chinese yuan spurred investors to buy into safe haven assets.
Gold futures for April delivery GCJ6, +1.02% jumped $7.60, or 0.6%, to $1,217.70 an ounce, rising for the fourth time in five sessions. The contract slumped 1.7% on Monday as broader optimism in the financial markets translated into rallies for risk assets such as equities and oil, but a pullback for gold.
However, that sentiment was reversed on Tuesday as Asian shares SHCOMP, -0.81% dropped after the People’s Bank of China weakened the yuan by the most in six weeks, according to media reports. The move was seen as yet another sign of a slowing in the Chinese economy and adds to fears the world’s second largest economy could cut its imports.
In other metals, silver for March SIH6, +0.70% rose 0.2% to $15.22 an ounce, while copper for the same month HGH6, -0.71% lost 0.4% to $2.11 a pound.
March palladium PAH6, +0.40% was slightly lower at $498.55 an ounce, and April platinum PLJ6, +1.34% rose 0.2% to $929.20 an ounce
This story originally appeared on MarketWatch by Sara Sjolin on February 23, 2016. View article here.

How to Help Preserve Your Wealth for Generations
As we near a potential deal regarding the federal debt ceiling, some Americans are breathing a sigh of relief. The chances of our nation defaulting on its debts have been lowered, at least for now. But inflation continues to impact our wallets, and we’re faced with an...