Analyst says gold has ‘stuck its head above the parapet’ A gold sheep figurine is displayed at jewelry store in Hong Kong earlier this year. Gold futures climbed Wednesday to log a fourth straight session of gains, as a weaker U.S. dollar helped prices finish at their highest level in almost four months. Gold for December delivery GCZ5, +0.41% gained $14.40, or 1.2%, to settle at $1,179.80 an ounce on Comex. Meanwhile, December silver SIV5, +0.20% tacked on 21 cents, or 1.3%, to $16.117 an ounce. The settlements for both gold and silver were the highest since June 22, based on the most-active contracts. After Wednesday’s price settlement, gold moved even higher in electronic trading, with the December contract up at $1,187.70 shortly after the release of the Federal Reserve’s Beige Book, which indicated some slowing in the economy. Gold on Wednesday had continued to extend recent gains after “soft” retail-sales report, but not necessarily because investors are piling into gold longer term, said Tyler Richey, co-editor of The 7:00’s Report. “Hawkish short bets continue to be unwound as rate-hike expectations fade toward 2016.” The U.S. dollar index DXY, +0.14% declined against its main rivals Wednesday as disappointing economic data lifted expectations that the Fed would continue to delay an interest-rate hike. In September, U.S. retail sales barely rose and theproducer-price index fell by a bigger-than-expected 0.5%. August business inventories were unchanged. Low rates can make gold, which isn’t an interest-bearing asset, more appealing. In addition, a weaker dollar can boost buying of dollar-denominated assets like gold. Overall, gold has benefited lately from bets that U.S. interest rates won’t rise this year, a break in the dollar’s rally and mixed feelings about stocks and other so-called risk assets. The shiny metal has “stuck its head above the parapet as a safe haven for nervous investors,” said David Buik, market commentator at Panmure Gordon & Co., in emailed comments early Wednesday. Chintan Karnani, chief market analyst at Insignia Consultants, attributed part of gold’s gains to the arrival of festival season in India, but also questioned whether Indians will continue to buy gold if prices remain firm for the rest of the month. Other metals traded on Comex settled higher. December copper HGZ5, +0.41% tacked on 2.8 cents, or 1.2%, to $2.416 a pound. January platinum PLF6, +0.74% added $2.80, or 0.3%, to $995.40 an ounce and December palladiumPAZ5, +0.28% rose $15.50, or 2.3%, to $700.85 an ounce. More from MarketWatch