LIVE BULLION UPDATE :
Spot gold rose 0.26% to $1,240.72 per ounce, having earlier reached $1,244.32 per ounce, its highest since July 17. US gold futures were 0.28% higher at $1,246.10 per ounce.
Back in India, gold prices on Thursday rose by Rs 170 to close at Rs 32,120 per 10 gram at the bullion market in Delhi on increase in demand from local jewellers amid firm trend in the overseas market.
Silver rates also inched up by Rs 25 to close at Rs 37,625 per kg on slightly higher demand from industrial units and coin makers.
“What we are seeing is a lot of safe-haven support with the equity markets selling off, coupled with a weakness in the US dollar,” said Alex Turro, market strategist at RJO Futures.
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