Gold hit its highest in more than a week overnight, vaulting the $US1,200 per ounce mark, as investors sought refuge in the metal after stock markets sold off due to anti-euro comments by an Italian lawmaker.

Gold hit its highest in more than a week overnight, vaulting the $US1,200 per ounce mark, as investors sought refuge in the metal after stock markets sold off due to anti-euro comments by an Italian lawmaker.