Gold futures on the Multi Commodity Exchange opened higher at Rs 29,797 per 10 grams against the previous close of Rs 29,767.

The uptrend in gold prices was attributed to rupee depreciation against dollar.

Comex gold was trading at $1,609 troy ounce.

In the latest indicator of Europe's troubles, ratings agency Standard & Poor's has revised Greece's outlook to negative.

(This article was published on August 8, 2012)
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