Wednesday, 12 July 2017

EPIC RESEARCH MCX GOLD UPDATE OF 12 JULY 2017

Gold trading range for the day is 27602-27986. Gold turned positive after Fed’s Brainard sparked doubts about a rate hike later this year, warning that further rate increases could stifle inflation. Brainard’s dovish comments dampened investor expectations of a Fed rate hike later this year, pressuring yields and the dollar, lifting demand for the precious metal. Fed’s Neel Kashkari said he finds it hard to believe that the U.S. economy is in danger of overheating when wage growth is so low.

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