(Reuters) - India gold may extend losses for a sixth consecutive week on subdued leads from international markets, but reviving physical offtake may cap the downside, analysts said. "Gold may trade sideways with a negative bias, as investment demand is down. It will be well supported at 18,000/18,100 rupees," said Pranav Mer, senior analyst with Mangal Keshav Commodities. "Even good bank stress results would weigh on gold," said Mer. The most-active August gold contract on the Multi Commodity Exchange (MCX) was trading 0.12 percent lower at 18,236 rupees per 10 grams at 5:21 p.m., after hitting a low of 18,216 rupees earlier. The contract had shed 3.1 percent in the previous five weeks. But prices are still below the all-time high of 19,198 rupees struck on June 8. MCX gold's supports are placed at 17,900/18,020/18,125, resistance is at 18,280/18,400/18,515, Karvy Comtrade said in a report. Investors took some reassurance that European banks had passed the stress tests on their ability to deal with a debt crisis. This may dim the yellow metal's appeal as a safe haven asset. Traders and dealers said the recent correction in prices seems to have pushed up sales in July as traders replenished stocks for the upcoming festivals, which will last till November. India, which accounts for more than 20 percent of global demand, will celebrate the Hindu festival of Raksha Bandhan on Aug. 24, and Janmasthami and Ganesh Chaturthi in September. The world's largest consumer of bullion may import 500-550 tonnes of gold in 2010, up from 480-490 tonnes a year earlier, the head of a trade body said. (Reporting by Siddesh Mayenkar; Editing by Sunil Nair)

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