Gold on MCX settled down -0.29% at 28800 amid a firmer dollar as markets waited to see if U. S. President Donald Trump will face hurdles on his economic agenda. Dallas Federal Reserve Bank President Robert Kaplan said Thursday that the U. S. central bank should be moving "deliberately but patiently" to remove monetary policy accommodation, as long as the economy continues to make progress toward the Federal Reserve's goals. In a talk at the Chicago Council on Global Affairs, Kaplan reiterated his economic forecast for above 2 percent growth for this year, and said the U. S. labor market is relatively tight and the economy is making reasonable progress toward the Fed's 2-percent goal. U. S. President Donald Trump will get a second chance to try to close the deal with Republican lawmakers on dismantling Obamacare in a high-stakes vote on a new healthcare bill rescheduled for Friday. A rough ride for the healthcare plan could affect Trump's efforts to cut taxes and boost infrastructure, with the potential to drive more investors to gold as a safe haven if stock markets fall. Economic recovery in the euro zone is gaining ground and some data points to robust momentum in the first quarter despite uncertainty over Brexit, China's rebalancing and new U. S. policies clouding the outlook, the European Central Bank said. Technically market is under long liquidation as market has witnessed drop in open interest by -7.83% to settled at 4087 while prices down -85 rupees, now Gold is getting support at 28718 and below same could see a test of 28635 level, And resistance is now likely to be seen at 28916, a move above could see prices testing 29031.

Trading Ideas:

# Gold trading range for the day is 28635-29031.

# Gold dropped amid a firmer dollar as markets waited to see if U. S. President Donald Trump will face hurdles on his economic agenda.

# Fed’s Kaplan said that the U. S. central bank should be moving "deliberately but patiently" to remove monetary policy accommodation.

# U. S. home resales fell more than expected in February amid a persistent shortage of houses on the market that is pushing up prices and sidelining prospective buyers.