EPIC RESEARCH MCX Gold UPDATE OF 29 January 2019

Gold trading range for the day is 32243-32741.

Gold prices held steady on hopes the U.S. Federal Reserve will keep interest rates unchanged during its two-day policy meeting later in the week.

The Fed raised interest rates times last year and has signalled it will probably lift borrowing costs twice in 2019.

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

Traders will be awaiting an expected update on U.S. fourth-quarter growth on Wednesday and Friday’s U.S. government employment report for January.


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