Gold settled down -0.14% at 28212 ended lower ahead of the minutes of the U.S. Fed's July policy meeting, with the dollar trending higher against a basket of select currencies. Investors await for clues to the Fed's interest rate outlook in the wake of recent mixed batch of economic data. The Fed minutes will be out later today. Markets also await some crucial comments later this week from top bankers at the Fed's annual Jackson Hole symposium, including the Fed Chair Janet Yellen. Meanwhile, the minutes of the BoE's August policy meeting showed a couple of members of BOE's policy board to have insisted on a hike in interest rates. The situation in Ukraine and the Middle East also continued to remain in focus. While concerns over Ukraine have subsided a bit, there seem to be worries about Iraq with reports of some fighting between government forces and militants for control of the Mosul dam. On Tuesday, gold futures ended lower for a third successive session, as investors moved to riskier assets, tracking strong global equity markets. A stronger dollar too contributed to the bullion's decline. Also pressure seen on MCX Gold as Indian rupee rose to a near three-week high against the dollar on Wednesday on the back of strong foreign investor buying in the debt market, although greenback demand from importers and a fall in shares limited further gains. Technically market is under fresh selling as market has witnessed gain in open interest by 1.01% to settled at 9374 while prices down -40 rupee, now Gold is getting support at 28148 and below same could see a test of 28083 level, And resistance is now likely to be seen at 28280, a move above could see prices testing 28347.

Trading Ideas:

Gold trading range for the day is 28083-28347.

Gold dropped as demand stagnated and the dollar hit its highest on growing optimism over the U.S. economy.

Buying in China remains weak, dealers said, though concern over violence in Ukraine and the Middle East has fuelled some interest.

SPDR Gold Trust said its holdings rose 0.9tonnes to 800.09 tonnes on Wednesday - a third straight day of increase.