Gold gains as risk aversion weighs on dollar

Gold edged higher on Thursday as growing risk aversion weighed on the dollar, while palladium held ground at a premium to the bullion. Spot gold was up 0.2 per cent at $1,239.86 per ounce, as of 0429 GMT, while US gold futures were 0.2 per cent higher at $1,244.9 per ounce.

Spot gold may test a resistance at $1,245 per ounce, a break above which could lead to a gain into a range of $1,253-$1,258

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