MUMBAI, Dec 4 (Reuters) - Indian gold futures fell for a fifth consecutive session on Thursday taking a cue from global markets, analysts said. "We are still bearish on gold," said Devarsh Vakil, manager, research, at Ahmedabad-based Anagram Capital Ltd. Gold slipped on Thursday as the dollar gained against the euro and worries about demand weighed on oil, driving investors away from bullion ahead of the release of U.S. nonfarm payrolls data later this week. See [ID:nSP62745] Adding to the decline would be a firm rupee, Vakil added. A stronger rupee makes gold imports cheaper and brings down domestic prices. The Indian rupee strengthened slightly in the morning as expectations of an economic stimulus package, inflows into the share market and a drop in oil prices to their lowest in nearly four years, boosted sentiment. See [ID:nBOM74588] The February gold contract may be confined to a 12,385 and 12,580 rupees range, said Naveen Mathur, head of commodities at Angel Commodities Broking Pvt Ltd. Open interest for February gold on MCX was at 11,731 lots, up from 11,641 a day earlier. Volume on Wednesday was 53.04 kg.

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