Mumbai: India's gold futures were steady in early trade on Monday tracking international cues, analysts said.
At 11:52 a.m, benchmark February gold on the MCX was 0.11 percent lower at 16,950 rupees per 10 grams.
International gold was almost steady at $1,112.9 per ounce at 11:52 a.m.
Dollar's firmness curbed investor appetite for the metal amid light trading ahead of the Christmas holidays.
However, analysts expected a weak rupee and some fall in gold prices in the past few sessions to support domestic gold futures later in the session.
The Indian rupee fell early on Monday tracking broadly lower regional peers but the local sharemarket open was watched for further cues on the direction of fund flows.
A weak rupee makes the dollar denominated commodity expensive.
"Gold's fall in the last three-weeks is now bringing some potential buyers back into the market," said an analyst with Karvy Comtrade Ltd, a Hyderabad-based brokerage.
Bureau Report
First Published: Monday, December 21, 2009, 12:33