EPIC RESEARCH MCX Gold UPDATE OF 20 August 2018
Posted by Commodity Updates by Epic Research on 13:00:00 with No comments
Gold trading range for the day is 29173-29539.
Gold prices settled flat as a weakening U.S. dollar relieved pressure on prices, but the precious metal remained near 19-month lows.
The U.S. dollar dropped after White House economic advisor Larry Kudlow confirmed that Chinese and U.S. officials will meet later in August to resume trade talks.
Gold prices, however, struggled to claw back heavy losses suffered during week and remained on track to post its biggest weekly slump since April last year.
The precious metal has mostly languished just below the psychologically important $1,200 level after dropping beneath this line for the first time in more than a year.
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