EPIC RESEARCH MCX GOLD UPDATE OF 16 AUGUST 2017

Gold trading range for the day is 28949-29229. Gold prices edged lower, pulling back from their highest level in around two months as concerns about tensions between the U.S. and North Korea eased. Speculators boosted their net long position in COMEX gold for the fourth straight week to a near two-month high in the week to Aug. 8, U.S. CFTC data showed. India's gold imports are likely to jump by a third in 2017 to 750 tonnes on restocking by jewellers and as good monsoon rainfall is expected to boost demand in rural areas.

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