MUMBAI (Reuters) - India Gold' class='bD_15arlink' title='gold price'>gold futures extended losses and stayed near the lowest level in more than a week, due to a stronger rupee that made the dollar-quoted yellow metal cheaper, dealers said.
* The most-traded gold for December delivery on the Multi Commodity Exchange (MCX) was 0.27 percent lower at 26,520 rupees per 10 grams, after losing 0.86 percent in the previous session, a level last seen on Oct. 9.
* The rupee strengthened, supported by local share gains on strong quarterly earnings and hopes of foreign fund inflows, but dollar demand for gold buying is seen limiting the rise.
* Investors awaited clarity on Europe's plans to tackle the debt crisis at this weekend's European Union summit.
* France and Germany were reported to have reached an agreement to boost a euro zone financial rescue fund to 2 trillion euros ($2.76 trillion), as European leaders have been pressured to come up with a definitive solution to the debt crisis at the meeting this weekend.
* Gold traders in India, the world's biggest consumer of bullion, continued to hunt for bargains and stock for a slew of festivals slated later in the month, as prices stayed in the vicinity of the lowest level in more than a week.
* "Demand is good, and expectations are that we might see better retail sales on hopes of higher returns," said Harshad Ajmera, proprietor with Kolkata-based JJ Gold House, adding that he expects a 20 percent jump in sales from a year earlier.
(Reporting by Siddesh Mayenkar; Editing by Rajesh Pandathil)
