Gold futures on the COMEX division of the New York Mercantile Exchange ended at a nearly one-month low on Wednesday, as the U.S. dollar gained and stocks moved higher, dulling investment demand for the precious metal.

The most active gold contract for April delivery dropped 14.9 U.S. dollars, or 1.12 percent, to close at 1,314.6 dollars per ounce.

World stocks clawed their way back from two-month lows on Wednesday, though momentum was weak.

The U.S. dollar index, which measures the buck against six rivals, climbed 0.7 percent to 90.196 as of 1830 GMT.

Because most commodities are priced in dollars, strength in the currency can create a headwind for assets like gold, detracting from its appeal among buyers using weaker currencies.

As for other precious metals, silver for March delivery edged down 34.2 cents, or 2.06 percent, to settle at 16.238 dollars per ounce. Platinum for April fell 12.6 dollars, or 1.27 percent, to close at 981.7 dollars per ounce.