Gold rose 1 percent on Tuesday, recovering from near six-year lows as news that Turkish fighter jets had shot down a Russian warplane near the Syrian border sparked a rush to safety among investors, weighing on the dollar. The metal remained under pressure, however, from expectations the US Federal Reserve will press ahead with its first interest rate rise in nearly a decade next month.
Spot gold rose as much as 1.1 percent to $1,080.51 and was up 0.5 percent at $1,074.61 an ounce at 3:13 pm EST (2013 GMT). US gold futures for December delivery settled up 0.7 percent at $1,073.80.
"This is a clear escalation of the crisis, which should lift gold," Commerzbank analyst Carsten Fritsch said.
The US dollar index fell as investors piled into safe-haven currencies on concerns about rising tension between Russia and Turkey, shrugging off economic data.
Spot gold slid to its lowest since February 2010 last week at $1,064.95 an ounce, and pressed back to within a couple dollars of that level on Monday, with analysts saying bullion remains vulnerable.
"If the dollar continues to strengthen, gold will soften. It won't necessarily be a smooth trajectory, but I don't see any reason why it should pick up," Citi analyst David Wilson said.
Silver was up 0.4 percent at $14.16 an ounce, while palladium was 0.1 percent higher at $537.50 an ounce. Platinum fell as much as 0.9 percent to $831.80 an ounce, the lowest since December 2008.
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