India's gold futures extended gains for a second day on Friday due to sustained investment demand and further supported by a weaker rupee, analysts said. "Gold is expected to resume its uptrend after it witnessed a correction recently," said Harish Galipelli, head of research with Karvy Comtrade in Hyderabad, adding the yellow metal may target 14,320-14,390 rupees in the near-term. A weaker rupee makes the dollar-quoted gold expensive locally. The Indian rupee eased on Friday as renewed worries about the world economy drove investors away from risky assets such as the stock market and raised the spectre of more foreign fund outflows. The benchmark gold February contract was 59 rupees higher at 14,205 rupees at 11:06 a.m., after gaining 1.8 percent in the previous session. "Gold prices have sustained above the breakout level of 13,800 rupees for 3-4 days making a bullish case for gold," said Amrut Deshmukh, a senior technical analyst with Way 2 Wealth, in Mumbai. Buying is recommended on dip to 14,000 rupees, with a stop loss of 13,700, and with a target of 14,700-14,900 rupees, Deshmukh added. Open interest for Feb gold on MCX was at 10,161 lots, down from 10,254 a day earlier. Volume on Friday was 55.8 kgs.

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