EPIC RESEARCH MCX GOLD UPDATE OF 15 DECEMBER 2016

Gold trading range for the day is 27488-27734. Gold prices edged higher on a weaker dollar and as markets waited for the outcome of the U.S. Federal Reserve's policy meeting Fed’s Yellen announced that the central bank was raising interest rates by 0.25%, and that it planned three additional rate hikes next year. Data prior to Fed statement showed U.S. retail sales barely rose in November, while U.S. industrial production fell more than expected.

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