EPIC RESEARCH MCX GOLD UPDATE OF 07 DECEMBER 2016

Gold trading range for the day is 27652-28142. Gold prices dropped as a possible U.S. rate hike as early as next week weighed on prices. Fed officials cautioned that the incoming Trump administration's economic plans should not be cast as if the economy is in crisis. Interest rates futures implied traders saw a 93-percent chance the Fed would raise rates by a quarter point to 0.50-0.75 percent next week.
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