India, Aug. 20 -- Extending yesterday's surge, gold prices have edged higher on Thursday gaining back the ground it lost earlier due to profit-taking after U.S. President Donald Trump announced drastic economic measures against Iran which renewed crude oil supply concerns. In the absence of a fresh military campaign, the lowered safe-haven demand for the U.S. dollar reduced expectations for a near-term rate hike in the U.S.
Front Month Comex Gold for September month delivery has inched higher by $19.30 (or 0.43%) to $4,514.40 per troy ounce.
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