Gold futures on MCX opened at Rs 29,956 per 10 grams on Tuesday against yesterday's close of Rs 29,981.
The yellow metal for August delivery on MCX may cross Rs 30,015 today.
Gold in Mumbai spot market of Mumbai was trading at Rs 2,985 per gram.
Gold in Comex was at $1618 a troy ounce at 11:30 a.m. today.
Gold will take a cue from the outcome of Group of Seven meet to discuss measures to contain the euro zone debt crisis.
US gold futures for August delivery gained nearly half a per cent to $1,621.60 an ounce.
One has to keep a watch on rupee movement against dollar. If rupee depreciates, gold prices will move up in India.
On the NCDEX, gold August contracts hit Rs 30,000 against Rs 29,908 on Monday in morning trade.
Silver July futures on the MCX increased to Rs 54,165 a kg against Rs 53,839. The uptrend in gold futures may continue on the back of bleak future of global economy.