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Gold prices held steady on Wednesday as the dollar crept up from multi-month lows even as fading prospects of a US monetary tightening continued to pressure the greenback.
The dollar stayed on the defensive and remained near over 10-month lows.
Spot gold was nearly flat at $1,241.46 per ounce at 0408 GMT. In the previous session, it hit its highest since June 30 at $1,244.56.
US gold futures for August delivery fell 0.1 per cent to $1,240.90 per ounce.
Spot gold may rise more to $1,250 per ounce, as it has cleared a resistance at $1,239, according to Reuters technical analyst Wang Tao.
In other precious metals, silver rose 0.1 per cent to $16.26 per ounce, after touching its highest in about two weeks in the previous session.
Platinum fell 0.2 per cent, to $920.50 per ounce. On Monday, it had touched its highest since mid June.
Palladium fell 0.3 per cent to $861.25 per ounce