Gold to trade in 28782-29000: Achiievers Equities

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Gold trading range for the day is 28782-29000.

Gold traded in range in thin holiday trade, with a softer dollar and a retreat in stock markets helping the metal cling on to the previous session’s gains.

Global gold demand declined by 18pc during the first quarter of 2017 to 1,034 tonnes, mainly due to less inflows into ETFs and slower central bank demand.

The gold demand in India will remain in the range of 650-750 tonnes in 2017 even if the GST rates are fixed at a lower rate, according to WGC.

BUY GOLD JUN 2017 @ 28880 SL 28750 TGT 28980-29150.MCX.

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