MUMBAI, Nov 19 (Reuters) - Indian gold futures moved up on Wednesday tracking a firm overseas market and on a weak rupee, analysts said. "Firm international cues are supporting the market...but it is unlikely to see sharp movements," said Gnanasekar Thiagarajan, director, Commtrendz Research. Overseas gold edged up on Wednesday tracking a slight rebound in oil prices. Gold generally moves in tandem with crude oil as the latter signals inflation, while the metal negates it. The benchmark December contract is likely to trade in a range of 11,775-11,950 rupees, Thiagarajan said. Traders will be closely watching the U.S. mortgage market index, building permits and housing start numbers along with currency markets for further direction, said Debjyoti Chatterjee, associate vice president, MAPE ADMISI Commodity Research. A weak rupee is also boosting sentiment, he said. The Indian rupee was weaker, but off a three-week low struck in early trade after local stocks rose, halting a five-day slide. India imports most of its gold. A weak rupee makes imports costlier and pushes up domestic prices. Open interest for December gold on MCX was at 9,541 lots, up from 9,362 the previous session. Volume on Tuesday was 36.2 kg.

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