Gold futures for April 2016 contract, at MCX, were trading at Rs. 29,112 per 10 grams, up by 0.26 per cent after opening at Rs. 29,051 against the previous closing price of Rs. 29,037. It touched the intra-day high of Rs. 29,130 till the trading.

At the MCX, Gold futures for April 2016 contract is trading at Rs 29,977 per 10 gram, up by 1.30 per cent after opening at Rs 29,650, against the previous closing price of Rs 29,592. It touched the intra-day high of Rs 29,990.

Asian markets rallied today as concerns over China eased after the country's central bank assured that it had further monetary easing room to help prop up growth in the world's second biggest economy and that there is no reason for yuan depreciation. The focus today will be on the revised US Q4 GDP estimates and consumer spending data.

Yellen will make her first public appearance in 55 days and her first since the Fed kick started its first tightening cycle in nearly a decade with its historic decision in December to abandon a seven-year zero interest rate policy.

Recently, a paramount commodity advisory firm of India, BazarClick Services Pvt. Ltd.