Friday, 16 June 2017

EPIC RESEARCH MCX GOLD UPDATE OF 16 JUNE 2017

Gold trading range for the day is 28563-29053.Gold prices dropped following the release of upbeat U.S. economic data and as investors continued to digest the Federal Reserve's hawkish message. The Fed raised interest rates for the second time this year at the conclusion of its policy meeting, putting it in a range between 1.0%-1.25%. The central bank maintained its outlook of three rate hikes total for this year, as it expects that a tightening labor market will lift inflation to the 2% target.

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