Gold rose for the first time in three days after speculators boosted bullish bets on the precious metal to a three-month high.

Futures for February delivery climbed 0.3 percent to $1,194.10 an ounce on the Comex by 8:54 a.m. in New York. Bullion for immediate delivery rose 0.1 percent to $1,194.06, according to Bloomberg generic pricing.

The cost of lending the metal turned positive on Dec. 5 for the first time in six weeks, as the U.S. jobs data reinforced expectations for higher interest rates next year and lifted the U.S. dollar. Bullion futures slid 1.4 percent after the report.

Source: Bloomberg