Brokerage India Infoline expects a trading range of Rs 31,600-32,850 for gold on the Multi Commodity Exchange, it said in a report.
Gold could move in the range of $1,700-1,790 an ounce till the year end, according to the broker, as the market has been roiled by conflicting comments from Washington about the US budget negotiations.
Global gold has recovered from a 1-1/2-week low of $1,705.64 an ounce hit on Wednesday, but it has been unable to break a strong resistance at $1,730 an ounce. Top U.S. Republican lawmaker John Boehner said on Thursday that the talks had made little progress, after expressing optimism about reaching a deal with the White House just a day earlier.
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