Gold on MCX settled up 1.26% at 30666 as demand for safe-haven assets was boosted amid growing jitters over the U.S. presidential election. Following a two-day meeting, the Fed signaled it could hike rates in December as the economy gathers momentum and inflation picks up. Two policymakers dissented in the decision in favor of an immediate hike, down from three in September. Investors were rattled by signs the U.S. presidential election race was tightening less than a week before the November 8 vote. Two separate polls showed Donald Trump moving slightly ahead of Hillary Clinton, as enthusiasm for the Democratic candidate has ebbed since the renewal of the FBI's email investigation late last week. U.S. non-farm private employment rose much less than expected in October, dampening optimism over the health of the labor market, industry data showed. In a report, payroll processing firm ADP said non-farm private employment rose by a seasonally adjusted 147,000 last month, below forecasts for an increase of 165,000. The economy created 202,000 jobs in September, whose figure was upwardly revised from a previously reported increase of 154,000. While not viewed as a reliable guide for the government jobs report due on Friday, November 4, it does give guidance on private-sector hiring. CME raised COMEX 100 Gold futures (GC) maintenance margins by 11.1 percent to $6,000 per contract from $5,400 for November and December 2016. Technically market is under fresh buying as market has witnessed gain in open interest by 1.39% to settled at 7066 while prices up 381 rupee, now Gold is getting support at 30448 and below same could see a test of 30231 level, And resistance is now likely to be seen at 30784, a move above could see prices testing 30903.

Trading Ideas:

Gold trading range for the day is 30231-30903.

Gold prices gains as uncertainty over the outcome of the U.S. election knocked stocks and the dollar lower.

The Fed signaled it could hike rates in December as the economy gathers momentum and inflation picks up.

U.S. non-farm private employment rose much less than expected in October, dampening optimism over the health of the labor market.