Gold on MCX settled down -0.42% at 28629 as the dollar gathered strength on the prospect of a U.S. interest rate hike. Markets dramatically adjusted expectations for U.S. interest rate hikes this year following hawkish comments from several top Fed officials last week. The ADP National Employment Report showed its biggest increase in more than a year in February, suggesting the U.S. economy remains on solid ground.

Trading Ideas: 

 *Gold trading range for the day is 28468-28856. 

*Gold prices extended losses as the dollar gathered strength on the prospect of a U.S. interest rate hike. 

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