Gold futures on MCX opened lower at Rs 29,765 per 10 grams against the previous close of Rs 29,793.

In Comex, it was up by $3 at $1,617 troy ounce.

The rupee has been showing signs of strengthening against the dollar. This has pulled down gold prices in rupee terms.

The day’s session is likely to be driven by the US GDP number along with one of its component, personal consumption.

(This article was published on July 27, 2012)
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