India's gold futures extended gains for a fourth consecutive session on Wednesday tracking overseas futures market and a weaker rupee, analysts said. Comex gold for February delivery traded 0.33 percent higher at $840.9 an ounce, helped by a weaker dollar against the euro. A weaker rupee made the dollar-denominated gold expensive locally. A correction is expected in gold on expectations of huge dollar buying ahead of the year-end, said Debjyoti Chatterjee, associate vice president at MAPE ADMISI Commodities. He recommended selling MCX gold at 13,200 rupees and above with a target of 12,900 rupees and with a stop loss of 13,290 rupees. At 11:45 a.m., the benchmark February gold on the Multi Commodity Exchange of India (MCX) traded higher by 0.40 percent at 13,125 rupees per 10 grams after gaining over 2.5 percent in the last three sessions. Selling is recommended in March silver at 17,350-17,400 rupees with a target of 17,000 and with a stop loss of 17,750 said Harish Galipelli, head of research at Karvy Comtrade. The benchmark March silver contract last traded 89 rupees higher at 17,276 rupees per kg following the yellow metal. Open interest for Feb gold on MCX was at 15,656 lots, up from 15,390 a day earlier. Volume on Tuesday was 45.6 kgs.

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