Nov 29, 2016 11:52 AM IST IST | Source: Moneycontrol.com

Gold to trade in 28497-2899 range: Achiievers Equities

According to Achiievers Equities, 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.

Achiievers Equities report on Gold

Gold

Gold trading range for the day is 28497-2899.

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.

BUY GOLD DEC @ 28550 SL 28380 TGT 28720-28880. MCX

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