EPIC RESEARCH MCX GOLD UPDATE OF 03 AUGUST 2017

Gold trading range for the day is 28338-28846. Gold edged down as investors took profits following a recent rally, with strong economic growth in Europe and rising stock markets encouraging a shift to riskier assets. Recently prices were supported by doubts U.S. interest rates would rise quickly while the market awaited U.S. payroll data for further clues. Political turmoil in Washington and a run of weak economic indicators has reduced expectations that the U.S. Federal Reserve will raise rates rapidly.

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