The precious metal was headed for a seventh straight session of rise and a monthly gain of more than 16 percent, highest since September 1999.
We are not hearing much good news out of Europe or the United States," said Darren Heathcote, head of trading at Investec Australia.
"The picture looks pretty bleak in the short term... For the time being investors are happy looking at gold as safe haven in these troubled times, and will continue to do so until we see something positive and sustainable."
On the chart, gold has been in the overbought territory since early August, with the Relative Strength Index hovering about 83.
http://in.reuters.com/article/2011/08/23/idINIndia-58912820110823