MTECHTIPS;-Gold to trade in 28792-29206

MTECHTIPS;-Gold to trade in 28792-29206

MTECHTIPS-Gold trading range for the day is 28792-29206. Gold recovered from lows as support seen after data showed an unexpected month-on- month drop in U.S. consumer prices and retail sale. The Fed raised interest rates for the second time in three months and said it would begin cutting its holdings of bonds and other securities this year. U.S. consumer prices unexpectedly fell in May and retail sales recorded their biggest drop in 16 months, suggesting a softening in domestic demand. BUY GOLD AUG 2017 @ 29000 SL 28860 TGT 29180-29340. MCX.

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