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Gold prices today edge higher after a two-day fall

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After a two-day downtrend, gold prices in India edged marginally higher today, tracking similar movement in global markets.

On MCX, June gold futures were up 0.28% to ₹45,911 per 10 gram while July silver futures rose 0.23% to ₹43,328 per kg. In global markets, gold prices were flat today after a two-day fall.

Fears of a of a new wave of coronavirus infections in many countries as they reopened their economies supported gold despite a stronger US dollar.

Spot gold rates were unchanged at $1,695.75 per ounce. The US dollar was up at a more than two-week high against a basket of six other currencies, making gold costlier for investors holding other currencies.

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