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Gold futures end higher on Tuesday

Gold futures ended higher on Tuesday supported by expectations of stronger demand from the physical market and as the dollar slipped against a basket of major currencies on fading prospects of an imminent increase in US interest rates.

Gold futures for August delivery gained $8.20, or 0.7 percent, to settle at $1,241.90 an ounce on the Comex division of the New York Mercantile. While, spot gold was up 0.7 percent at $1,242.41 an ounce.

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