MUMBAI: India gold futures were slightly higher on Wednesday taking support from a weak rupee, making the dollar-quoted asset expensive, analysts The most-traded gold December contract on the Multi Commodity Exchange (MCX) was 0.20 percent higher at Rs 15,889 per 10 grams at 10:36 am.
The rupee weakened to new three-week lows as a lower opening in the stock market raised worries of foreigners repatriating funds, while weaker Asian units added to the woes.
"It should trade slightly higher and may be in the range of Rs 15,800 - Rs 15,945," said Gnanasekar Thiagarajan, director, Commtrendz Research.
Range seen is 15,500-15,920, said Aurobinda Prasad, deputy manager-research, Karvy Comtrade.
Open interest for December gold on MCX was at 12,905 lots, down from 12,917 a day earlier. Volume on Tuesday was 32.83 kg.
