Gold on MCX settled down -0.27% at 31756 as waning global economic slowdown concerns lifted the dollar and equity markets. Strong manufacturing data from the United States and China triggered a massive sell-off in the U.S. bond market, which in-turn lifted Asian equities to seven month highs.
Trading Ideas:
* Gold trading range for the day is 31604-31916.
* Gold prices slipped as waning global economic slowdown concerns lifted the dollar and equity markets.
* Strong manufacturing data from the United States and China triggered a massive sell-off in the U.S. bond market.
* China’s private business survey showed that the economy’s manufacturing sector unexpectedly returned to growth for the first time in four months in March.
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