BENGALURU: Gold rebounded on Wednesday from its losses in the previous session on investor demands for safety as uncertainty due to Brexit vote continued to pressure financial markets.

Bullion fell 0.9 percent on Tuesday as investors booked profits after a Brexit-driven rally that pushed prices up to their highest since March 2014. Gold, which hit a high of $1,358.20 on Friday, has risen 24 percent so far this year.

Spot gold rose 0.6 percent to $1,319.75 an ounce by 0632 GMT, up for a third session in four. US gold was up 0.4 percent at $1,323.50.

“Despite Tuesday’s impressive bounce in global equity markets (leading to gold’s modest retracement), we are not sure whether these patterns will stay in place over the rest of the week and would not be surprised to see more weakness in equities going into Wednesday’s session,” said INTL FCStone analyst Edward Meir. —Reuters