EPIC RESEARCH MCX Gold UPDATE OF 12 December 2018

Gold trading range for the day is 31640-32136.

Gold firmed as expectations that the U.S. Federal Reserve may slow its interest rate hike trajectory next year weighed on the dollar and stoked interest in bullion.

U.S. producer prices unexpectedly rose in November as increases in the costs for services offset a sharp decline for energy products.

The Fed is widely expected to raise rates at its Dec. 18-19 meeting, but the market is focusing on how much further it might raise rates next year.

Meanwhile, hedge funds and money managers trimmed their net short positions in Comex gold contracts in the week to Dec. 4, data showed.


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