EPIC RESEARCH MCX GOLD UPDATE OF 28 JULY 2016

Gold trading range for the day is 30697-31163.  
Gold gained after data showed U.S. orders for long lasting manufactured goods fell more than forecast in June.            
The Federal Reserve left interest rates unchanged but said near-term risks to the U.S. economic outlook had diminished.              
China's annual gold consumption is expected to be 1,200 tonnes by 2020, state-owned Shanghai Securities News reported, citing an estimate from a MIIT official.

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