MUMBAI (Reuters) - Indian gold futures opened lower on Monday on weak overseas markets and falling oil prices, analysts said. "It is now searching for some positive triggers...no major outcome from the G-20 meeting is pulling down the market," said Subodh Gupta, an analyst with Anand Rathi Commodities. Overseas gold dropped more than 1 percent on Monday on a weaker euro after a meeting of the Group of 20 major economies stopped short of announcing major regulatory breakthroughs, sending oil prices down. Oil fell over $1 to below $56 a barrel on Monday, dropping to near its lowest in almost two years. Gold generally moves in tandem with crude oil as the latter signals inflation, while the metal negates it. In macro-economic reports, traders will be looking at U.S. industrial output and capacity utilization data later in the day along with currency markets to get further direction of the yellow metal, said Debjyoti Chatterjee, associate vice president, MAPE ADMISI Commodity Research. Open interest for December gold on MCX was at 9,785 lots, down from 10,339 the previous session. Volume on Saturday was 2.5 kg.

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