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Wednesday, 23 January 2019

EPIC RESEARCH MCX Gold UPDATE OF 23 January 2019



Gold trading range for the day is 31867-32341.

Gold bounced back as mounting concerns of an economic slowdown exacerbated by a cut in the IMFs global growth forecast drove investors to the safety of bullion.

Fed officials have left little doubt that they want to stop raising interest rates, at least for a while.

China’s economy cooled in the fourth quarter under pressure from faltering domestic demand and bruising U.S. tariffs, dragging 2018 growth to the lowest level in nearly three decades.

The IMF predicted that the global economy would grow at 3.5 percent in 2019 and 3.6 percent in 2020, down 0.2 and 0.1 percentage points respectively


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