Gold on MCX settled down -0.26% at 28945 pressured by comments from Federal Reserve Chair Janet Yellen that reinforced expectations of an increase to U.S. interest rates this month. However, traders said that geopolitical tensions created by North Korea firing four ballistic missiles into the sea off Japan's northwest coast were supportive to bullion.

Trading Ideas: 

*Gold trading range for the day is 28753-29285. 

*Gold dropped pressured by comments from Federal Reserve Chair Janet Yellen that reinforced expectations of an increase to U.S. interest rates this month.

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