Gold futures on the MCX opened lower at Rs 29,801 for 10 grams against yesterday's close of Rs 29,835.

The August contract on MCX may trade between Rs 29,780 and Rs 29,880 depending on the rupee movement against the dollar.

In Comex, it was up by $3 at $1,606 a troy ounce.

Gold rose to a three-week high in Comex on Wednesday, boosted by expectations that the European Central Bank will intervene to prop up the ailing Euro zone finances.

(This article was published on July 26, 2012)
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