EPIC RESEARCH MCX GOLD UPDATE OF 2 MAY 2018

Gold trading range for the day is 30816-31028. Gold dropped as the dollar strengthened ahead of Fed policy meeting, which is being watched for clues on the future pace of interest rate hikes. The dollar was boosted after the Commerce Department said annual inflation hit the Federal Reserve’s 2% target for the first time in over a year in March. While the U.S. central bank is widely expected to stand pat on policy for now, market participants will be closely watching for hints of an interest rate hike in June.

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