Gold futures steady near record highs

The contract had struck an all-time high of 17,243 rupees in the previous session.

8220;The pressure of profit-taking remains after the recent rise,8221; said Harish Galipelli,head of research with JRG Wealth Management.

The contract has gained about 7 percent since the start of the month.

Falling US equities on growing caution about the US economic outlook helped highlight gold8217;s safe-haven appeal.

8220;In all,gold may consolidate between 17,100-17,280 rupees,but the sentiment still remains positive,8221; added Galipelli.

Gold may trade in the range of 17,192-17,300 rupees,said Aurobinda Prasad,deputy manager-research,Karvy Comtrade.

Open interest for December gold on MCX was at 16,633 lots,down from 16,731 a day earlier.