Gold prices rebounded from seven-week lows on Tuesday after North Korea fired a missile into Japanese waters, raising geopolitical tensions and boosting bullion's safe-haven appeal. North Korea said it successfully test-launched an intercontinental ballistic missile, days before leaders from the Group of 20 nations are due to discuss steps to rein in Pyongyang's weapons programmes. Gold is typically seen as a store of value and therefore a safe-haven investment in times of economic and political uncertainty, when investors tend to sell riskier assets such as stocks.

World shares, oil and bond yields pulled back on Tuesday as North Korea's long-range missile test and July 4 holidays for U.S. markets curbed investor appetite for risk. Spot gold was up 0.3 percent at $1,223.37 an ounce by 1345 GMT, while U.S. gold futures climbed 0.3 percent to $1,222.60 an ounce.

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