RTRS: India copper, gold futures seen opening firm
MUMBAI, Oct 20 (Reuters) - India's copper futures are expected to open firm on Monday, buoyed by rising equity prices and fresh pledges by central bankers to stabilise markets, analysts said.
The head of the European Central Bank on Sunday pledged to do whatever it takes to restore confidence to shaky markets.
The benchmark November copper MCCX8 on the Multi Commodity Exchange of India (MCX) on Saturday ended down 0.06 percent at 241.6 rupees. It may open around 242-242.5 rupees per kg, one analyst said.
Copper prices may trade rangebound during the session, supported by global measures to shore up the financial system, the analyst added.
October zinc MZIV8 ended down 0.83 percent at 59.55 rupees and lead for October delivery MLDV8 ended down 0.90 percent at 70.85 rupees per kg. GOLD:
India's gold futures are seen opening slightly higher on Monday on the MCX in tune with overseas markets where investors picked up bargains after last week's sharp falls, an analyst said.
The benchmark December gold MAUZ8 is likely to open around 12,650 rupees per 10 grams from its closing at 12,573 rupees, the analyst added.
December silver MSVZ8 is seen opening around 17,400 rupees per kg from its closing at 17,261 rupees.
(Reporting by Ruchira Singh and Nandita Bose; Editing by Ramya Venugopal) ((ruchira.singh@thomsonreuters.com; +91-22-6636 9287; Reuters Messaging: ruchira.singh.reuters.com@reuters.net))
