February gold moved to $847.10, up $9 on the day. The metal reached as high as $849.60. The dollar was little-changed against the euro near 1.3970 after paring early losses. The greenback was also flat with the pound and yen. Gold usually moves opposite the dollar because of the precious metal's hedge appeal.
Gold dropped on Tuesday amid light trading to return its modest gains from the previous session. February gold finished at $838.10, down $9.10 for the day.