Gold retreats from 12-week high as investors grab profits

By Marcy Nicholson and Jan Harvey NEW YORK/LONDON (Reuters) - Gold fell by 1 percent on Thursday, pressured by earlier strength in equity markets 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. World stock markets were mixed after Wall Street indexes came off their highs and the dollar slipped on bets that U.S. interest rate hikes would be more gradual than the Federal Reserve has suggested. U.S. gold futures for Fe