EPIC RESEARCH MCX GOLD UPDATE OF 29 NOVEMBER 2016

Gold trading range for the day is 28497-28991. Gold rose recovering from a 9-1/2 month low in the previous session, as the U.S. dollar extended losses after touching a 14-year high touched last week. The metal has fallen about 7 percent so far this month on the back of a strong U.S. dollar and surging bond yields. Supply concerns in China after a directive from the People's Bank of China to limit gold import licenses, kept premiums in Shanghai around $22 .

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