Gold for June delivery at the Multi Commodity Exchange opened on the higher side at Rs 29,144 per 10 grams against Saturday’s close of Rs 29,109. It may touch Rs 29,200 level today.
Rupee is currently trading flat against dollar. Any wild swing in its movement will have an impact on gold prices.
Gold in Mumbai spot market opened at Rs 2,835 per gram against the previous close of Rs 2,825 per gram.
In US market, the yellow metal was trading at $1,664.50 a troy ounce at 12 noon today.
German retail sales revived in March. It was bolstered by declining unemployment, slowing inflation and higher wages.