XF 1.2 An unexpected database error occurred. Please try again later

Hi Team,

Basically every night at 12 midnight, my forum fails with an issue with mysql connection issue. I've raised the issue with my host who are investigating this issue thoroughly but in the meantime, I've searched previous threads and turned on $config['debug'] = true;

An exception occurred: Mysqli statement execute error : Prepared statement needs to be re-prepared in /home/raceonoz/public_html/ausfifa.com/forums/library/Zend/Db/Statement/Mysqli.php on line 214

Zend_Db_Statement_Mysqli->_execute() in Zend/Db/Statement.php at line 317
Zend_Db_Statement->execute() in Zend/Db/Adapter/Abstract.php at line 479
Zend_Db_Adapter_Abstract->query() in Zend/Db/Adapter/Abstract.php at line 808
Zend_Db_Adapter_Abstract->fetchPairs() in XenForo/Model/DataRegistry.php at line 144
XenForo_Model_DataRegistry->_getMultiFromDb() in XenForo/Model/DataRegistry.php at line 97
XenForo_Model_DataRegistry->getMulti() in XenForo/Dependencies/Abstract.php at line 144
XenForo_Dependencies_Abstract->preLoadData() in XenForo/FrontController.php at line 127
XenForo_FrontController->run() in /home/raceonoz/public_html/ausfifa.com/forums/index.php at line 13
I've read previously that this could be an issue when server is under load but for the mean time, this 12 midnight time slot is low on traffic. I'm on shared hosting and I dont believe I am hitting any limits. What can I do about this problem? Im launching the site soon and cannot afford any down time. I also dont want to blame the host when the issue is on my end.

Please Help.
Thanks Brogan, I will make a suggestion to my host to increase both table_definition_cache (from 256 to 1,024) and table_open_cache (from 64 to 512).

Should this be enough or should I ask to increase this more, looks like this worked well for Jeremy.