Gold prices recovered on Wednesday from a near 1 percent fall in the previous session as investors' hopes of the U.S. bond-buying program staying intact for some more time overshadowed their fears of slowing bullion demand in India, the world's top consumer.
Investors are awaiting U.S. nonfarm payroll data on Friday, a key factor in determining whether the U.S. Federal Reserve would start winding down its $85 billion monthly bond purchases. Gold, seen as a hedge against inflation, would benefit if the purchases continue.
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