India's gold futures edged higher on Monday on bargain buying, after having lost about 5.7 percent this month till the previous session, analysts said.
However, a strong rupee may keep the upside of the yellow metal limited.
The benchmark June contract was 0.46 percent higher at 14,267 rupees per 10 grams at 11:23 a.m., after hitting a high of 14,307 rupees in early deals.
A strong rupee makes the dollar quoted asset cheaper.
The Indian rupee rose to its highest level in 1-½ months as early gains in local shares raised expectations of capital inflows that would support the currency, with sentiment also underpinned by gains in other Asian currencies.
"It is also technical buying that is supporting gold," said Kunal Shah, an analyst with Nirmal Bang Commodities in Mumbai.
Gold may trade in the range of 14,120-14,380 rupees for the day, said Shah.
"It would be in a range as there are no major cues," said K.N. Rahaman, deputy research head with Way 2 Wealth Securities in Mumbai.
Gold may trade in the range of 14,051-14,400 rupees for a couple of days, said Rahaman.
Open interest for June gold on MCX was at 13,758 lots, down from 13,831 a day earlier. Volume on Saturday was 1.98 kg.
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