EPIC RESEARCH MCX GOLD UPDATE OF 8 MAY 2018

Gold trading range for the day is 31079-31399. Gold holds gains on the geopolitical front, the Iranian nuclear deal and the US-China trade tensions are supporting gold demand as a safe-haven. The European Central Bank’s chief economist Peter Praet said an unexpected drop in euro zone core inflation may be a one-off. Speculators trimmed their net long positions in COMEX gold by 62,378 contracts to 51,985 contracts in the week to May 1, U.S. data showed.

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