Gold traded in Mumbai is set to extend its losing streak heading towards the lowest level since August 2011 as technical indicators signal further declines, Motilal Oswal from Commodity Broker Pvt said on Friday. Bullion traded in London entered a bear market in April and it has lost 18% since the beginning of the year, while futures are expected to fall 8% to 24,000 rupees, or $438, per 10 grams on the India's Multi Commodity Exchange in the next month.