EPIC RESEARCH MCX GOLD UPDATE OF 02 FEBRUARY 2018

Gold trading range for the day is 29722-30860. Gold prices remained supported as sentiment on the greenback remained vulnerable despite upbeat U.S. data and a hawkish outlook by the Federal Reserve. Stronger-than-expected jobs data, lower unemployment and higher wages would signal strength in the economy. Gold consumption in China grew by 9.41 percent from the previous year to 1,089 tonnes in 2017, citing figures from the China Gold Association.

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