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Gold prices inched higher on Wednesday as Federal Reserve Chair Jerome Powell said the central bank would keep monetary policy accommodative as the U.S. economy still needed support.

Spot gold rose 0.2% to $1,809.17 per ounce by 0111 GMT, having hit its highest since Feb. 16 at $1,815.63 on Tuesday. U.S. gold futures gained 0.1% to $1,807.30.

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