EPIC RESEARCH MCX Gold UPDATE OF 21 August 2018

Gold trading range for the day is 29380-29584.

Gold gained as a strengthening currency in China made the metal cheaper for buyers in the world’s biggest gold consumer.

Investors seeking a safe place to store assets amid trade disputes and a Turkish currency crisis have preferred the dollar to gold, undermining the reputation of bullion as a safe-haven.

Physical gold demand in India regained momentum last week as jewellers stocked up after prices dipped to their lowest in over seven months.

Hedge funds and money managers increased their net short position in COMEX gold contracts for the sixth straight week to another record in the week to Aug. 14.

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