Gold snapped a three-session winning streak on Wednesday as a rebound in equities lured investors away.Gold for February delivery GCG5, -0.28% fell $8.70, or 0.7%, to $1,210.70 an ounce, while March silver SIH5, -0.45% shed 9 cents, or 0.5%, to $16.54 an ounce.
A day earlier, gold prices rallied as the metal’s safe-haven appeal was burnished by the fact that the S&P 500 SPX, +1.16% was extending its losses in 2015 to nearly 3% — about the same amount that gold had risen since the ball dropped on the new year.
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