Gold futures on the Multi Commodity Exchange gained marginally due to rupee depreciation. The yellow metal for August delivery opened higher at Rs 29,984 against yesterday's close of Rs 29,964. MCX Gold August contract may trade between Rs 29,800 and Rs 30,050 per 10 gram. US spot gold was trading lower at $1,569 a troy ounce at 11.30 am against $1,572 an ounce at 9.30 am. Rupee depreciation against dollar is holding up gold prices in India even as it is falling in the US markets.

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