Gold Futures Mark First Gain In Three Sessions

By Myra P. Saefong Markets MarketWatch Pulse

Gold futures settled higher Wednesday after two consecutive sessions of declines. A retreat in the U.S. dollar helped buoy demand for the dollar-denominated metal ahead of next week's U.S. Federal Reserve decision on interest rates. Analysts also kept an eye on the potential demand impact of the Shariah Gold Standard. The Standard, which offers guidance in gold investing that adheres to religious laws governing members of Islam, was announced earlier this week. February gold rose $7.40, or 0.6%, to settle at $1,177.50 an ounce.

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