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Gold futures on the Multi Commodity Exchange opened lower at Rs 30,870 per 10 grams on Wednesday against the previous close of Rs 30,888.
February contract made a high of Rs 31,191 and low of Rs 30,760. It was up by 0.29 per cent at Rs 30,986 at 1.55 p.m. In Comex, the February contract was up by $7 at $1,683 a troy ounce.
The appreciation of rupee against dollar is limiting the rise in gold prices in the domestic market.
The Government has reduced the import tariff value on gold from $550 per 10 grams to $539 per 10 grams. This may again keep gold under pressure on MCX.
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