India gold futures are likely to open lower on profit-taking, but may recover later in the session to hit record high, in step with overseas markets, where safe-haven buying helped sentiment, analysts said.
The most-active April gold contract on Multi Commodity Exchange （MCX） last closed at 20,984 rupees per 10 grams, down 0.06 percent, nearing an all-time high of 21,101 rupees hit on Dec. 7.
The contract may open at 20,950-20,960 rupees, said Aurobinda Prasad, head of research, Karvy Comtrade.
"Gold might see an initial correction, though trading is expected to be on the higher side," said Prasad, adding "one can buy at support levels, range seen is 20,872-21,110."
Overseas spot gold edged up, as spreading turmoil in Libya and soaring oil prices stoked worry of slower economic growth and continued to drive investors seeking safe-haven to bullion.（Reuters）
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