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Gold prices traded sideways on Wednesday. Spot gold was at $1,203.70 a troy ounce in morning European trade.
The U.S. labour market data on Friday might provide the further direction of gold price.
The Reserve Bank of India's cut of its interest rate supported gold price on Wednesday. The central bank lowered its lending rate to commercial banks by 25 basis points to 7.5%. That was the second cut this year.
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