Gold prices rallied on heightened trade tensions between Washington and Beijing.
Investment demand and a dovish policy stance by central banks around the globe are providing additional support to gold prices.
Federal funds futures implied traders saw a 69% chance of at least 25 basis-point rate cut by the U.S. central bank this September.
Dealers offered discounts of up to $37 an ounce over official domestic prices, the highest since August 2016, versus $35 discounts last week.
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