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Gold opened up at both spot and futures market as dollar index fell.
MCX gold opened at Rs 28,360 per 10 grams against Monday’s close of Rs 28,329. In Mumbai spot market, it was at Rs 2,725 per gram against the previous close of Rs 2,710.
The Bank of Japan refrained from extending monetary support to its economy and retained key rates between zero and 0.1 per cent. There were wide expectations that BoJ would take monetary measures to counter deflation.
Trade data to be released from the Euro zone later in the day is expected to hold gold prices on the higher side till evening.
MCX gold may touch Rs 28,450 per 10 grams. Gold for June delivery on the Comex division of the New York Mercantile Exchange was up by $15.90 at $1,646.10 an ounce, while on the spot market, it was trading at $1,653 at 11 am.
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