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Gold futures on the Multi Commodity Exchange opened lower at Rs 29,275 per 10 grams on Wednesday against previous day's close of Rs 29,289.
The August contract on MCX may trade between Rs 29,280 and Rs 29,150 per 10 grams.
The rupee has depreciated to 55.40 from 55.17 as exporters offloaded their dollar position.
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