Gold futures at the Multi Commodity Exchange opened marginally lower at Rs 30,061 against Saturday’s close of Rs 30154.

The Reserve Bank of India has left all key bank rates unchanged. This may lead to depreciation of rupee against dollar and prevent gold prices from falling sharply in India.

MCX gold August contract may trade in a range between Rs 30,000 and Rs 30,100 per 10 gram.

US spot gold was down by $5 at $1,622 a troy ounce at 11.30 am.

European leaders are under pressure at the Group of 20 Summit in Mexico to rescue euro zone from the ongoing debt crisis.

(This article was published on June 18, 2012)
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