Gold Trading Range For The Day Is 29724-30026

Gold on MCX settled up 0.26% at 29911 as the U.S. dollar fell to fresh three-year lows, but an end to uncertainty created by a three-day U.S. government shutdown capped gains. The dollar extended recent weakness against a basket of major currencies to hit a fresh three-year low, after the euro surged on consumer confidence data indicating strong momentum in the region's economy.

 

Trading Ideas: 

 

* Gold trading range for the day is 29724-30026.

 

* Gold gained as the U.S. dollar fell to fresh three-year lows, but an end to uncertainty created by a three-day U.S. government shutdown capped gains.

 

* The U.S. economy is likely to grow in 2018 at its fastest pace in three years, fuelled by the biggest tax overhaul since the 1980s.

 

* Gold demand in China firmed as retailers stocked up ahead of the Chinese New Year while price discounts widened in India.

 

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