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Gold Prices Mixed In Cautious Trade

Gold prices traded mixed on Wednesday after posting strong gains in the previous session on hopes for U.S. stimulus.

Spot gold rose 0.55 percent to $1,625.83 per ounce, after climbing as much as 3 percent on Tuesday. U.S. gold futures were down 0.3 percent at $1,655.10.

The dollar index fell for a second day after lawmakers in Washington reached agreement on a sweeping $2 trillion economic stimulus package to help support firms and households hit by the coronavirus outbreak. The bill is expected to be passed through the Congress later today.

Investors continued to monitor the latest developments in the coronavirus crisis as India's 1.3 billion people joined the global lockdown.

The United States could become the global epicenter of the coronavirus pandemic, the World Health Organization said.

Germany registered 4,191 new cases of the virus and 36 more deaths, raising the total number of infections to 31,554.

The daily death toll from the coronavirus has increased once again in Italy, after two days of smaller rises.

There have been 42,058 confirmed cases of coronavirus in Spain, which has been in national lockdown since mid-March.

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