Gold futures on the Multi Commodity Exchange opened higher at Rs 29,810 per 10 grams against yesterday's close of Rs 29,788.
In Comex, the yellow metal was trading at $1,623 troy ounce.
Rupee depreciated by 20 paise against the dollar. If the trend continues, gold may gain further.
The Reserve Bank of India left the key interest rates unchanged on concerns over high inflation.
The move will have very little impact on rupee. Gold prices will follow the international trend and move up.
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.