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India gold, copper futures to edge lower at open

Source : REUTERS
Last Updated: Sat, Mar 24, 2012 20:32 hrs

MUMBAI, March 20 (Reuters) - India gold futures are likely to open lower on Tuesday morning, tracking global markets, with investors watching the rupee for further direction, analysts said.

* The most-active gold for April delivery on the Multi Commodity Exchange last ended 0.11 percent higher at 27,901 rupees per 10 grams.

* Spot gold in international market was trading down at $1,656.89/1,657.70 an ounce from the previous close of $1,660.40/1,664.40. U.S. gold inched down 0.62 percent to $1,657.0.

* The rupee, which opened little changed, plays an important role in determining the landed cost of the dollar-quoted yellow metal.

COPPER

Copper futures are likely to open a tad lower on Tuesday, tracking global markets, where weak demand expectations from China weighed on the red metal.

* Three-month copper on the London Metal Exchange fell 0.41 percent to $8,535 per tonne, having taken aim at $8,600 earlier in the session.

* The most-active copper for April delivery on the MCX last ended 0.61 percent higher at 434.85 rupees per kg. (Reporting by Siddesh Mayenkar; Editing by Aradhana Aravindan)




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