Gold edged lower on Wednesday, but held near a 1-1/2-week high hit in the previous session as the US Federal Reserve reassured investors of its commitment to loose monetary policy, burnishing bullion's appeal as a hedge against inflation. Spot gold edged down 0.2 percent to $1,609 an ounce by 0606 GMT, off a 1-1/2-week high of $1,619.66. It rose 1.2 percent on Tuesday, its biggest daily gain in three months. US gold lost 0.4 percent to $1,609.60.
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