Gold has turned higher but hovers beneath the previous session's seven-and-a-half-month high of $US1,200 an ounce, buoyed by risk aversion as equities remain volatile and the dollar extends losses.

Gold has turned higher but hovers beneath the previous session's seven-and-a-half-month high of $US1,200 an ounce, buoyed by risk aversion as equities remain volatile and the dollar extends losses.