Tuesday, 6 June 2017

EPIC RESEARCH MCX GOLD UPDATE OF 06 JUNE 2017

Gold trading range for the day is 29102-29356. Gold gained buoyed as a disappointing U.S. jobs report appeared to dilute the prospects for an aggressive string of interest rate hikes in US.U.S. job growth slowed in May and employment gains in the prior two months were not as strong as previously reported, suggesting the labor market was losing momentum. Indian Rural Gold demand will be good as good monsoon, rise in MSP's, rural employment guarantee scheme and waiver of farm loans will support demand.

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