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Gold futures open higher at Rs 31,666 per 10 gm

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Gold futures on the Multi Commodity Exchange opened higher on Monday at Rs 31,666 per 10 grams against the previous close of Rs 31,640.

December contract made a high of Rs 31,706 and low of Rs 31,615. It was trading at Rs 31,620 at 1.30 pm. In Comex, gold for December delivery was up by $7 at $1,722 a troy ounce.

The appreciation of rupee against dollar in the currency futures market has been restricting the rise in gold prices in rupee terms.

US will be announcing housing sector data later in the day. If there is an improvement, it will put pressure on gold prices in the evening.

(This article was published on November 19, 2012)
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