India's gold futures edged lower on Friday after gaining for three continuous sessions, pressured by a strong rupee, which makes the dollar-quoted asset cheaper, analysts said. The most active gold June contract was 0.11 percent lower at 14,477 rupees per 10 grams at 11:23 a.m., after having gained about 2 percent in the previous three sessions. The Indian rupee rose to a five-month high past 47 per dollar early, supported by the U.S. unit's weakness overseas and on hopes for a jump in foreign investment after the ruling coalition won national elections. "It's a breather from three days of rally," said Tejas Seth, senior research analyst with SMC Global in Delhi. "The strong rupee has been stalling gold's rally in India," said Subodh Gupta, an analyst with Anand Rathi Commodities. However, the bullish tone would persist in gold on the back gold falling equity markets and partly due to a weak dollar overseas, added Gupta. Open interest for June gold on MCX was at 12,542 lots, up from 12,435 a day earlier. Volume on Friday was 38.9 kg.

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