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Gold

Gold trading range for the day is 47409-47991.

Gold prices dropped ahead of a crucial Fed meeting that could offer cues on future interest rate hikes amid rising inflationary pressures.

The Fed is expected to approve plans to scale back its bond-buying programme on Wednesday, when it concludes a two-day policy meeting.

Markets will also be watching the BOE policy meeting on Thursday as investors weigh chances of the first interest rate hike.

China's Jan – Sept gold consumption up 48.4% y/y at 813.59 T

BUY GOLD DEC 2021 @ 47400 SL 47200 TGT 47700-47900.MCX

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