Gold futures score first gain in four sessions

Gold futures finished higher on Wednesday to recoup part of the roughly 2% loss they suffered over the past three trading sessions.

February gold GCG6, +0.43% tacked on $1.90, or 0.2%, to settle at $1,087.10 an ounce on Comex. Prices fell 1% on Tuesday, which was their third session decline in a row.

“Gold remains a destination for ‘safe money’ during the flare ups of volatility and further weakness in global equities could fuel a continuation of the recent rally into the mid $1,100s in the near term,” analysts at The 7:00’s Report said on Wednesday. But longer term, “gold will take its cue from the dollar and [U.S. Federal Reserve] policy expectations.”

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