MUMBAI: Gold futures treaded water on Thursday as the dollar stayed near its seven-week low against a basket of currencies, analysts said.
The most-active August gold contract was 0.04 per cent higher at 14,945 rupees per 10 grams at 11:05 a.m.
The dollar hovered close to a seven-week low as steady stock markets and stronger US home prices offset weak bank earnings and dented the greenback's safe-haven allure.
Gold is considered as an alternative asset to the US currency.
"Gold may be on the higher side later supported by weak dollar and firm crude. The resistance is placed at 15,000 rupees," said Aurobinda Prasad, deputy manager-research, Karvy Comtrade.
Investors would also await jobless claims data from the US to gauge direction in the precious metals complex.
Gold may be in the range of 14,880-15,00 rupees, said Kunal Shah, analyst with Nirmal Bang Commodities.
Open interest for August gold on MCX was at 12,985 lots, down from 13,175 a day earlier. Volume on Wednesday was 25.31 kg.
