EPIC RESEARCH MCX Gold UPDATE OF 13 August 2018

Gold trading range for the day is 29520-29946.

Gold prices seen supported drawing some support from global political tensions and a slightly weaker dollar against the yen.

The number of Americans filing for unemployment benefits unexpectedly fell last week, suggesting that a strong economy was helping the labour market.

China warned that duties imposed by President Donald Trump’s administration on some $50 billion of Chinese imports set to be enacted on Aug. 23.

Fed has raised benchmark interest rates two times so far this year and targets two more hikes in the near-term with the next one slated to come in September.

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