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MCX Gold June contract opened at Rs 28,569 per 10 grams against Saturday’s close of Rs 28,587. It is expected to touch Rs 28,400 before European market opens later in the afternoon.
Gold in Mumbai spot market opened at Rs 2,763 per gram against previous close of Rs 2736.
Gold in US market was at $1645 a troy ounce. Gold in Comex closed at $1649 an ounce on Friday
Rupee has depreciated against the dollar and this is stopping Indian gold prices from sharp fall.
Dollar index strong
Weeks after European leaders unveiled funding of $1 trillion, the crisis-ridden Euro zone is seeking a bigger global war chest to combat the debt crisis. The Spanish government continues its battle to resolve financial crisis. Crisis-fighting resources for the Euro zone is expected to dominate talks at the International Monetary Fund's meeting in Washington from April 20-22.
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