Thursday, 9 August 2018

EPIC RESEARCH MCX Gold UPDATE OF 9 August 2018

Gold trading range for the day is 29469-29765.

* Gold traded in range due to rising U.S. interest rates and strong demand for U.S. Treasury bonds seen as a refuge from trade tensions are expected to weigh.

* The United States will begin collecting 25 percent tariffs on another $16 billion in Chinese goods on Aug. 23, the U.S. Trade Representative’s office said.

* Gold-backed ETFs saw outflows in North America, Europe and Asia in July as a strong U.S. dollar helped weaken gold prices, WGC said.

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