Gold is recovering from the collapse of global markets

Gold prices rallied on Wednesday after global markets began to crash, prompting investors to buy the precious metal, which appears to be finally recovering to a safe haven.

Gold futures for the most actively traded February contract rose 1.2 percent to $ 1.102 an ounce on the New York Mercantile Exchange. Investors bought 26.8 tonnes of gold over the past five days, according to a recent analysis of the data, which physically supports the metal as its biggest growth in a year.

Demonstrating disappointing investor moves towards gold last year, gold began to rally this year after the Fed launched its first interest rate hike in nearly a decade. At the same time, the profits of other metals in the markets around the world fell once again. Not all precious metals have followed gold. Platinum hits a seven-year low for the third straight day, dropping to $ 486.60 an ounce, while silver is down 0.2 percent to $ 14.09 an ounce.

Mining stocks continue to suffer after crude brent traded at $ 28.07 a barrel, the lowest price in 13 years. Copper prices, often seen as a barometer of global economic growth, fell 4.2 percent with oil.

The MSCI World Index lost 1.3 percent capital, hitting its lowest level in two and a half years. So far this month, the index has dropped 9.9 percent, making it its worst month since 2009. China's stock markets have been hit by the fall in oil prices, posting one of their worst monthly results, and the IMF's outlook for China's growth has also been cut.