Bullion counter may trade on volatile path as US CPI data and movement of greenback can give further direction to the prices. Meanwhile movement of local currency rupee can give further direction to the prices. Gold can move in range of 29700-29950 while silver can move in range of 40800-41400 in near term.
Gold fell to a 1-1/2-week low on Wednesday , erasing earlier gains as the dollar index jumped, though a retreat in global stocks after Tuesday's record high prevented deeper losses. Concerns over North Korea's nuclear ambitions were a key factor driving spot gold prices to 13-month highs last week at $1,357 .54 an ounce. Demand for gold, seen as a safe investment in uncertain times, revived earlier after U.S. President Donald T rump pledged stronger measures against North Korea and Pyongyang promised to fight off what it said was the threat of a U.S. invasion.
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