Today's Mcx Market Update By Dollar Advisory

Gold on MCX settled up 0.24% at 29131 as the Federal Reserve remained cautious on U.S. interest rate increases. The metal has been hemmed into a narrow range by uncertainty over the path the U.S. central bank will take to raising rates. Fed Chair Janet Yellen, in a conversation with former Fed chairmen on Thursday, said the U.S. economy is still on track to warrant further interest rate hikes. Several other members considered raising rates in March, the minutes showed.

Trading Ideas:

Gold trading range for the day is 28744-29346.

Gold prices recovered from lows as the Federal Reserve remained cautious on U.S. interest rate increases.

The metal has been hemmed into a narrow range by uncertainty over the path the U.S. central bank will take to raising rates.

SPDR gold trust holdings dropped by 0.22% i.e. 1.79 tonnes to 817.81 tonnes from 819.60 tonnes. 

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