According to Achiievers Equities,Gold dropped as the U.S. dollar rallied amid indications the Federal Reserve could raise interest rates as early as next month.
Achiievers Equities report on Gold
Gold trading range for the day is 31135-31517.
Gold dropped as the U.S. dollar rallied amid indications the Federal Reserve could raise interest rates as early as next month.
Fed vice chairman Stanley Fischer said that the U.S. economy was close to hitting the central bank's targets for full employment and 2% inflation.
SPDR gold trust holdings gained by 0.25% i.e. 2.38 tonnes to 958.37 tonnes from 955.99 Tones
BUY GOLD OCT @ 31180 SL 31000 TGT 31450-31650.MCX.
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First Published on Aug 23, 2016 10:50 am