Gold rose more than 1 percent on Tuesday to a 4-1/2 month high as uncertainty over the extent of a stimulus program the European Central Bank is expected to unveil on Thursday drove investors into assets seen as lower risk.
Buying accelerated on a break of the previous day's high, dealers said, as stops were triggered, taking the metal to a session high of $1,294.10 an ounce.
U.S. gold futures for February delivery settled up 1.4 percent, at $1,294.20 an ounce. The metal has gained for seven sessions of consecutive. It has increased about 7 percent during that period, its strongest seven-day run since September 2007.
Spot gold was last up 1.2 percent at $1,292 an ounce.
Jittery financial markets are focused on Thursday's ECB meeting, at which the bank is widely expected to unveil a quantitative easing program, and a Greek election on Sunday, which polls suggest anti-bailout party Syriza will win.
"Nervousness ahead of the Greek election and the ECB's next meeting suggests that any investors who are long gold are likely to hold onto those positions, at least until there is a little more clarity on the likely fate of the euro," Mitsui Precious Metals analyst David Jollie said.