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Gold gains on dollar decline as market awaits Fed rate outlook

Gold prices rose on Wednesday as the dollar fell as investors await the outcome of the U.S. Federal Reserve’s meeting this week for signs of the pace of monetary tightening, which could limit the demand for bullion going forward.

Spot gold XAU= rose 0.2 percent to $1,313.96 per ounce at 0336 GMT. Prices fell to a nearly three-week low in the previous session of $1,306.91.

U.S. gold futures GCcv1 for April delivery fell 0.1 percent to $1,313.80 per ounce.

The dollar index .DXY , which measures the greenback against a basket of six major currencies, slipped down 0.1 percent to 90.256 after climbing to 90.445 on Tuesday, its highest in almost three weeks. USD/

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