SINGAPORE: Gold rebounded more than 1 percent on Wednesday after posting its worst drop in 18 months, as risk appetite retreated after Moody's downgraded Japan's debt rating and strong buying interest in Asia's physical market lent support.
The sharp drop in prices in the previous session triggered strong buying interest as Asia opened business, sending spot gold up 1.2 percent to $1,851.67 an ounce by 0303 GMT.
U.S. gold trimmed early losses to $1,854.80.
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