Gold futures on the COMEX Division of the New York Mercantile Exchange further hiked on Wednesday, extending the gold's rally into the third straight trading day, as the metal regained its safe-haven appeal amid lingering concerns about the euro zone and Iran.

The most active gold contract for February delivery rose 12.2 U. S. dollars, or 0.76 percent, to 1,612.7 dollars per ounce, the highest settlement since Dec. 21.

Market analysts said that there is indication that gold regained its status as a safe-haven investment amid geopolitical concerns surrounding Iran. Besides, lingering worries over global economy, especially the euro zone's continued to prompt investors to buy gold.

Meanwhile, gold also gained momentum from a rising oil price. New York crude oil on Wednesday settled at an 8-month high after topping 100 dollars per barrel, as Iran continues to defy Western powers in face of sanctions and it is reported that it had successfully made and tested nuclear fuel rods.

Analysts also noted that central banks around the world are expected to keep expanding gold reserves in 2012, keeping gold prices well supported.

Silver for March delivery lost 47.5 U.S. cents, or 1.6 percent, to 29.097 dollars per ounce. Platinum for April delivery dropped 6. 2 dollars, or 0.4 percent, to 1,426.3 dollars per ounce.