EPIC RESEARCH MCX GOLD UPDATE OF 20 JULY 2016

Gold trading range for the day is 30877-31223.  
Gold was little changed as bullion gleaned little impetus from in spite dollar rose on the back of better than expected US housing  data.  
The IMF cut its global growth forecasts for the next two years, citing uncertainty over Britain's looming exit from the European Union.            
Investors are also wagering on a rate cut from the Bank of England in August, while few see much chance of the Federal Reserve hiking U.S. rates anytime soon.

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