India gold futures may tread higher this week tracking gains in foreign markets, where investors may turn to the yellow metal anticipating weak data on U.S banks and slower economic recovery, analysts said. "Bullion might trade on the bullish side on a weekly perspective as it could benefit from the results of stress tests on U.S. banks," said an analyst with Bhavishya Advisory Pvt Ltd. Gold is often bought as a safe-haven asset in times of uncertainty. Foreign gold that guides the local market was looking upward as investors anticipated U.S. government's stress test results on Thursday to show banks need more capital, and therefore indicate economic recovery was still some distance away. Also bullish for gold are expectations that European Central Bank will cut its main policy rate to a record low on Thursday. see [ID:nL5940538] "Gold looks like moving upwards it has positive sentiments supporting ...just need a momentum to test $918 levels (per ounce)," said an analyst with Kotak Commodity Services Ltd. Two analysts expected June gold MAUM9 to test 14,850 rupees per 10 gram levels by the end of the week. Four analysts see a trading range between 14,200 and 14,850 rupees during the week. The June contract on Multi-Commodity Exchange was up 0.48 percent at 14,448 rupees per 10 gram at 5:01 p.m.

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