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Gold up on softer dollar but oil weakness caps gains

Gold edged up on Tuesday, recovering from overnight losses, on a softer dollar but a relentless slide in oil prices limited demand for the metal, often seen as an inflation-hedge.

Spot gold rose 0.5% to $1,073.60/oz by 0629 GMT, after losing 0.6% in the previous session. Volumes remained thin in the last trading week of the year.