EPIC RESEARCH MCX GOLD UPDATE OF 18 Oct 2016

On Monday, spot gold prices rose by 0.4 percent to close at $1255.2 per ounce partly lifted by steady flows into exchange-traded funds (ETFs) and a dip in the dollar after touching seven-month highs.
Holdings of the largest gold-backed ETF, New York's SPDR Gold Trust, rose 0.40 percent on Friday from Thursday. Federal Reserve Vice Chair Stanley Fischer said on Monday the U.S. economy may face longer and deeper recessions in the future if interest rates remain stuck at current low levels.On the MCX, gold prices by 0.17 percent to close at Rs.29705 per 10 gms.




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