Gold prices gained as tensions in the Middle East and weaker financial markets supported the metal, while a stronger dollar kept a lid on gains.
Investors are also taking stock of developments in the Middle East after the U.S. Navy shot down an Iranian drone in the Strait of Hormuz.
Investors reduced expectations of an aggressive interest rate cut by the Federal Reserve.
Hedge funds and money managers raised their bullish stance in COMEX gold in the week to July 16, the U.S. Commodity Futures Trading Commission said in a report.
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