EPIC RESEARCH MCX GOLD UPDATE OF 7 JUNE 2018

Gold trading range for the day is 30724-31092. Gold prices dropped as investor anticipation of a U.S. rate hike from the Federal Reserve next week weighed on prices. The case for hiking U.S. interest rates next week was bolstered when data showed U.S. services sector activity accelerated in May and job openings rose to a record high in April. Holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, fell 0.42 percent to 832.59 tonnes.

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