EPIC RESEARCH MCX GOLD UPDATE OF 16 AUGUST 2018

Gold trading range for the day is 29554-29908. Gold remained weak as dollar climbed towards its highest in over a year on concerns about global market contagion triggered by recent declines in the Turkish lira. Prices declined this year pressured by rising U.S. interest rates, a soaring dollar and a failure to capitalize on its traditional role as a hedge against global uncertainties. WGC estimated that gold consumption will continue to grow in China and that it would purchase about 30% of the gold sold globally, in the form of jewelry.

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