India gold futures are likely to rise this week on expectations of global dollar weakness and higher crude oil prices, analysts said.
The most-active gold for April delivery on the Multi Commodity Exchange (MCX) was trading 0.42% higher at Rs 28,275 per 10 grams on Tuesday.
Buying is advised in gold on dips to Rs 28,050, for a target of Rs 28,500, said Gnanasekar Thiagarajan, director with Commtrendz Research.
"Higher crude oil prices and a weaker dollar are supportive for the precious metals complex," said Thiagarajan.
Dollar and gold often move in opposite direction as the two compete for funds as alternative assets.
The euro held onto gains on Tuesday due to relief over Greece's securing of a rescue deal to avoid a chaotic default, but sceptical investors were looking to sell into a bounce on doubts whether it makes the country's debt burden any more manageable.
Silver could also extend gains this week following the yellow metal.
"Buy silver on dips to Rs 55,900 for a target of Rs 57,500," said Thiagarajan.
Silver for March delivery on the MCX on the MCX was 0.43% higher at Rs 56,560 per kg.
