MUMBAI: India gold futures edged higher on Thursday, tracking gains in overseas gold, but a firm rupee limited gains, analysts said.
Overseas gold rose 0.5 per cent on Thursday on improving technical charts and after a researcher from China's ruling party called on the world's sixth biggest sovereign gold holder to buy more bullion to hedge against the US dollar.
"Gold looks bullish today...international gold is moving higher it will track that," said Vishakha Chhabria, an analyst with Ventura Commodities Pvt Ltd.
The Indian rupee climbed on Thursday as higher shares raised hopes for foreign portfolio inflows, but concerns that poor rains could slow economic growth further curbed a sharper rise. A firm rupee makes gold imports cheaper.
