Monday, 9 January 2017

EPIC RESEARCH MCX GOLD UPDATE OF 9 JANUARY 2017

Gold trading range for the day is 27740-28056. Gold dropped as the dollar strengthened lifted by U.S. non-farm payrolls data that showed a slowing in hiring last month but an increase in wages. Non-farm payroll data showed that US added 156,000 jobs in December, less than expected, but a rebound in wages pointed to sustained labour market momentum. Gold demand in Asia gathered some steam on wedding season purchases in India, with prices swinging to a premium there for the first time in over a month.

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