Gold futures traded within a range and showed signs of weakness with rupee depreciating against dollar.
On the Multi Commodity Exchange, gold for August delivery opened at yesterday's closing level of Rs 30,201.
MCX gold August contract may move in a range between Rs 30,100 and Rs 30,250 per 10 gram.
US gold spot price was at $1621 a troy ounce at 11.30 am.
Japan reported its first trade deficit with the European Union since 1979 on the back of debt crisis roiling Spain and Greece economy.