Gold snaps losing streak; rises above $1,200 as stocks steady

By A. AnanthalakshmiSINGAPORE (Reuters) – Gold snapped a three-day losing streak on Wednesday, in choppy trade that saw the metal swing between gains and losses around the key $1,200 an ounce level as stock markets consolidated recent gains. The stock market stabilisation, after last week’s rout on concerns about the global economy, has reduced investor interest in gold as a safe-haven asset. The yellow metal hit a one-year high of $1,260.60 an ounce last week. Spot gold rose 0.5 per