India gold futures may ease from record

India gold futures may ease from their record highs on Tuesday, weighed by profit-taking after rising about 10% since the start of the month, analysts said.

The benchmark December gold on the Multi Commodity Exchange (MCX) closed 0.9% higher at Rs 17,551 per 10 grams, after hitting a record high of Rs 17,624 in the last session.

December gold is likely to open at Rs 17,540 per 10 grams, said Aurobinda Prasad, head of research with Karvy Comtrade.

"There could be profit-taking after the recent rise, but further moves would be data-dependent," said Prasad.

Investors would await the release of US GDP data and consumer confidence for November due later on Tuesday.

"Range would be Rs 17,450-17,650 in gold," said Abhishek Chauhan, Technical Analyst, Angel Commodities.

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