1st LD Writethru: Gold falls for fourth session in row on stronger U.S. dollar

Gold futures on the COMEX division of the New York Mercantile Exchange fell on Wednesday for a fourth straight session, as the U.S. dollar and global stocks regained their footing.

The most active gold contract for December delivery lost 11.6 U.S. dollars, or 1.03 percent, to settle at 1,115.2 dollars per ounce.

Gold prices fell by more than 1 percent for the second time in the past three sessions, as the U.S. dollar showed its strength Wednesday amid upbeat data.

U.S. private sector added better-than-expected 200,000 jobs in September, lifting expectations that there would be another month of moderate improvement in the upcoming U.S. employment report.

Some analysts believe if Friday's employment report proves as strong as the current data, then the odds of a rate hike for the October meeting of Federal Open Market Committee (FOMC) would certainly look favorable.

Generally, increasing interest rates would send the U.S. dollar higher. Analysts note gold and the U.S. dollar typically move in opposite directions, which means a weaker U.S. dollar can be a positive for commodities priced in dollars, while a stronger dollar can weigh on commodities.

Gold also pressured by global equities rallying strongly on Wednesday, which weighed on demand for the safe haven metal.

For the month, December gold registered a over-1.5-percent drop, despite volatility in global stocks that would typically lift the appeal of precious metals.

Among other metals, silver for December delivery lost 5.5 cents, or 0.38 percent, to close at 14.518 dollars per ounce, while platinum for January delivery shed 9 dollars, or 0.98 percent, to close at 909.1 dollars per ounce. Enditem