Gold futures were trading higher during afternoon trade in the domestic market on Wednesday as investors and speculators extended their positions in the precious metal on safe-haven demand as equities fell and the greenback eased following a plunge in crude oil prices
Further, a renewed drop in oil markets put Asian investors on edge, and pushed down US Treasury yields and the dollar index against a basket of other currencies.
At the MCX, gold futures for August 2017 contract is trading at Rs 28598 per 10 grams, up by 0.25 per cent, after opening at Rs 28590, against a previous close of Rs 28526. It touched the intra-day high of Rs 28634 (at 14:27 hours).
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