Gold trading range for the day is 29944-30588. Gold dropped as the U.S. dollar moved higher and a Federal Reserve official pointed to the possibility of two interest rate hikes in 2016.
Fed’s Lockhart told that although it is still possible to raise short-term interest rates this year, further tightening "depends entirely on how the economy evolves."
Investors will be eyeing U.S. data this week to gauge the strength of the economy and its impact on the Fed's monetary policy.
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