Gold futures may continue its downtrend in line with global markets. However, the depreciation of rupee against dollar has arrested the sharp fall in gold prices in India.
On the Multi Commodity Exchange, gold for August contract opened lower by Rs 30 at Rs 30,260 per 10 grams. The yellow metal may trade between Rs 30,050 and Rs 30,250 per 10 gram.
US spot gold was down by $10 at $1600 a troy ounce at 11.30 am.