Gold Recovered On Bargain Hunting After Having Dipped

Gold trading range for the day is 27967-28299.

Gold recovered on bargain-hunting after having dipped to a seven-week low earlier as safe-haven demand ebbed away.

The U.S. economy's weak performance at the start of the year should slow Fed plans for further rate increases, now broadly expected to resume at June meeting.

Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell 0.14 percent to 851.89 tonnes on Monday.


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