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Gold holds near $1,610 as dollar recovers

Gold prices fell back from earlier highs to trade little changed on Wednesday as the dollar recovered from lows against a basket of major currencies, but confidence in the metal held firm after its move above $1,600 an ounce in the previous session.

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Markets cautious over Spain banks rescue

World markets rose cautiously Tuesday as uncertainty reigned over whether Europe’s plan to rescue Spain’s ailing banks would be enough to prevent the continent’s debt crisis from infecting other economies, like Italy.

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Gold edges lower as worries over Europe simmer

Gold eased below $1,590 an ounce on Tuesday as concerns over the efficacy of the weekend aid package for Spain’s banks and upcoming elections in Greece eroded confidence in the outlook for the euro, and as hopes for fresh US monetary easing faded.

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