EPIC RESEARCH MCX GOLD UPDATE OF 24 MAY 2016

Gold trading range for the day is 29503-29817. 
Gold prices remained under pressure on expectations that the U.S. Federal Reserve will increase interest rates as early as June.   
US rates being kept too low for too long could cause financial instability in future and stronger market expectations for a rate rise are "probably good", St. Louis said.     
Goldman Sachs said they estimated a 35 percent chance the Federal Reserve would raise its target on the federal funds rate at its June 14-15 policy meeting.
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