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Wall Street’s key indices opened higher on Wednesday as Donald Trump's Gulf tour stoked hopes of more trade deals.

At the opening bell, the Dow Jones Industrial Average rose 9.7 points, or 0.02%, to 42150.09. The S&P 500 rose 10.2 points, or 0.17%, to 5896.74​, while the Nasdaq Composite rose 64.6 points, or 0.34%, to 19074.722.

Gold prices fell on Wednesday on soothing fears of a potential global recession after the US-China trade deal.

Spot gold fell 0.5% to $3,231.08 an ounce, as of 1144 GMT. US gold futures eased 0.4% to $3,234.70.

Spot silver was flat at $32.9 an ounce, platinum rose 0.7% to $994.78 while palladium was steady at$956.65.

Oil prices dropped on Wednesday on hopes of potential jump in US crude inventories.

Brent crude futures fell 75 cents, or around 1.1%, to $65.88 a barrel by 1206 GMT. US West Texas Intermediate (WTI) crude slipped 75 cents, or 1.2%, to $62.92.

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