MUMBAI (Reuters) - India's gold futures eased from its recent highs on Thursday, taking a cue from the global markets and further pressured by a firm rupee, analysts said. Gold may see some correction in the early part of the session, but the undertone has now become positive and it may resume its previous rally, said Harish Galipelli, head of research at Karvy Comtrade Ltd. The benchmark February gold closed up 3 percent at 12,718 rupees per 10 grams in its previous trading session, thereby registering its fourth consecutive day of gains. Overseas gold edged down to around $800 on Thursday to track weaker equities, a day after posting its biggest daily rise in almost three weeks, but cuts in oil output could spur safe-haven buying. A firmer rupee further pressured the yellow metal, analysts said. The dollar-rupee exchange rate plays an important role as most of India's requirement is imported and paid for in the U.S. currency. "We have a midly bullish view on gold for the day," said Ravindra C. Chauhan, a senior technical analyst at Anand Rathi Commodities. Gold will have to breach the 12,875 resistance level for it to rally to 12,985-13,050 levels, Chauhan added. Open interest for Feb gold on MCX was at 12,516 lots, down from 12,923 a day earlier. Volume on Wednesday was 65.45 kgs.

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