EPIC RESEARCH MCX GOLD UPDATE OF 28 DECEMBER 2016

Gold trading range for the day is 26859-27575. Gold prices rose on weak Japanese inflation data, but trading was thin with traders in the United States returning after the long Christmas weekend. Fed indicated it may raise rates three times in 2017, moves that could be bolstered by a report showing the U.S. grew at fastest pace in two years. SPDR gold trust holdings dropped by 0.14% i.e. 1.18 tonnes to 823.36 tonnes from 824.54 tonnes.
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