Gold retreats from 12-week high as Wall Street rises

By Jan Harvey LONDON (Reuters) - Gold fell by 1 percent on Thursday as Wall Street rose on the back of a rally in oil prices, with bullion investors quick to cash in gains from the Wednesday's rally to 12-week highs. U.S. stocks opened higher as oil rebounded on talk of a concerted response to low prices by Russia and OPEC producers, a day after the U.S. Federal Reserve gave little indication of slowing the pace of future rate hikes. Spot gold was down 1 percent at $1,114.25 an ounce at 1509 GMT