Monday, 8 May 2017

EPIC RESEARCH MCX GOLD UPDATE OF 08 MAY 2017

Gold trading range for the day is 27931-28321.Gold dropped after data showed U.S. job growth rebounded in April and as expectations for a U.S. interest rate hike in June grew and euro zone political risk receded.Pressure also seen gold prices after the Fed played down any threats to this year's planned rate increases, supporting forecasts of another move in June.Dealers in India were charging a premium of up to $2 an ounce this week over official domestic prices, compared to a premium of $1.50 last week.

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