EPIC RESEARCH MCX Gold UPDATE OF 21 January 2019

Gold trading range for the day is 31891-32419.

Gold slipped as equities and the U.S. dollar got a lift from investors taking on more risk due to growing hopes for a resolution in the China-U.S. trade war.

U.S. Treasury Secretary Steve Mnuchin mulled a tariff rollback during trade discussions with Chinese Vice Premier Liu He, scheduled for Jan 30.

Hedge funds and money managers raised their net long position in Comex gold in the week to Dec. 18, the U.S. Commodity Futures Trading Commission said.

SPDR gold trust holdings, gained by 1.51% i.e. 12.05 tonnes to 809.76 tonnes from 797.71 tonnes, crossing 800 level for the first time after August 1,2018.


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