NEW YORK—Gold prices recovered some ground Wednesday after falling for eight consecutive sessions, lifted by a rebound in oil prices and the conflict between Russia and Georgia.

Gold for December delivery rose $16.90 to settle at $829.60 an ounce on the New York Mercantile Exchange. On Tuesday, gold closed down 21 percent from its March record of $1,033.90 an ounce.

Soon after both Russia and Georgia said they would agree to a cease-fire after Moscow’s attacks on the former Soviet republic, the Bush administration on Wednesday expressed doubt that Russia was adhering to...

Log-In to view full story or view our Registration Guide.