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Gold hits 28-mth high above Rs 31k mark as Brexit fears return

Gold prices shot up to Rs 31,050 per 10 grams, a 28-month high, by surging Rs 400 in the bullion market today, underpinned by risk-off attitude among investors and positive global cues.

Spot gold was up 0.1 per cent at $1,351.49 an ounce by 0052 GMT. The precious metal touched a peak of $1,357.60 an ounce Monday, less than $1 below last month's high.
British bank Standard Chartered said the gold rally has lost its momentum and it would be difficult for the metal to float above $1,300 an ounce.
Prices of the yellow metal surged by 8.2 per cent to USD 1,319 an ounce on Friday after Britain voted to leave the European Union.