Gold futures rose Wednesday for a fourth straight session, climbing above $1,130 an ounce on concerns that the ongoing economic recovery could bring higher inflation, increasing gold's investment appeal.
The four-day winning streak, the longest in one month, came after the metal declined more than 7% in December, the biggest monthly loss in 14 months.
Also helping gold Wednesday, the dollar turned lower against most of its rivals.
Gold for February delivery gained $17.80, or 1.6%, to $1,136.50 an ounce on the Comex division of the New York Mercantile Exchange, after rising to $1,138.40 an ounce earlier in the session.
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