EPIC RESEARCH MCX GOLD UPDATE OF 05 MAY 2017

Gold trading range for the day is 27803-28505. Gold prices dropped on expectations of further U.S. interest rate increases this year and receding political uncertainty in Europe. Fed concluded its two-day policy meeting giving a positive assessment of the U.S. economy while keeping rates unchanged, as was widely expected. Expectations that centrist Emmanuel Macron will win the French presidential election on Sunday were reinforced in a TV debate with the far-right's Marine Le Pen.

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