MUMBAI (Reuters) - India gold futures may strike fresh records this week on the back of a weak dollar and rising crude prices, analysts said. The most-traded December contract was trading 0.82 percent higher at 17,531 rupees per 10 grams at 4:58 p.m., after hitting a record high of 17,557 rupees. The dollar fell broadly on Monday after dovish comments from a U.S. Federal Reserve official added weight to expectations that U.S. monetary policy would stay ultra-loose for a prolonged period. A weak dollar enhances gold's appeal as an alternative investment. U.S. crude oil prices rose by $1 to top $78 a barrel on Monday, supported by a weaker U.S. dollar and rising tension between Iran and Western nations. Rising crude boosts gold's appeal as an inflation hedge. "The trend is still up and we still see more upside," said Amrut Deshmukh, senior analyst with Way 2 Wealth Securities. "Buying could be initiated at 17,500 rupees, with a target of 17,700 rupees and stop loss of 17,400 rupees on a weekly basis," said Deshmukh.

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