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Wednesday, August 1, 2018

GOLD UPDATES FOR AUG 2 2018

THURSDAY 10.45 AM IST



THURSDAY




MARKET UPDATE



Gold has opened mildly higher as the US dollar has weakened 



against the Japanese Yen .


The Federal Bank has kept interest rates steady and has


 given an optimistic outlook of the US economy


 increasing the  possiblity of  increasing the 


interest rates  in September .


Asian markets are trading weaker after the Us President has 


announced additional tariff of 25 % on 200 Billion dollar worth 


of Chinese imports .


The Bank of England is also set to raise interest rates 


on Thursday .



Gold in the international market currently trading at $ 1219


Resistance now seen at $ 1225 and $ 1236



Will find support at $ 1214 and $ 1210


In the Mcx  Oct Gold trading at Rs 29689



Levels are as under


Support seen at Rs 29650



Resistance 1 29800



Resistance 2 29850



Resistance 3 29955


We will  keep updating . 




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