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PRECIOUS-Gold steady after rallying on economic hopes
Gold traded steady on
Wednesday just below a key resistance level, after rallying more
than 1 percent in the previous session when renewed optimism on
the global economy fueled gains in equities as well as bullion.
FUNDAMENTALS
* Spot gold inched up 0.1 percent to $1,634.61 an
ounce by 0030 GMT.
* U.S. gold gained 0.3 percent to $1,635.70.
* Gold breached above the key 200-day moving average in the
previous session, and traded just below the level on Wednesday.
Return to above the 200-day moving average may help gold resume
its bull run, analysts have said.
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