EPIC RESEARCH MCX Gold UPDATE OF 11 December 2018

Gold trading range for the day is 31304-32480.

Gold rallied as weakness in Rupee in supported prices on MCX and supported by a disappointing U.S. jobs data.

The U.S. central bank is flagging a turning point in monetary policy, as a Fed policymaker backed interest rate hikes in the “near term”.

Gold was sold at a discount last week in India for the first time in a month as a rebound in local prices prompted jewellers to postpone purchases.

Hedge funds and money managers increased their net short position in Comex gold contracts in the week to Nov. 27, the U.S. CFTC said.


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