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Gold futures on the Multi Commodity Exchange had closed lower at Rs 29,159 per 10 grams on Wednesday.
In Mumbai spot market, the yellow metal opened down at Rs 2,832. In Comex, the August contract opened up 5 per cent at $1,578 a troy ounce at 9.15 am.
Taking cues from the international markets, gold futures on MCX may also open on the positive side if rupee depreciates against the dollar.
The housing starts released by the US jumped to the highest level in four years, an indication of recovery in its economy.
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