Gold futures on Wednesday opened lower as rupee appreciated against dollar.

MCX gold for August contract dipped to Rs 29,400 per 10 grams against yesterday's close of Rs 29,428. It may remain bearish on the Multi Commodity Exchange.

In Mumbai spot market, the yellow metal was trading lower at Rs 2,823 a gram.

Rupee appreciated to 55.42 against dollar. This may further pull down gold prices.

(This article was published on July 11, 2012)
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