RTRS: India copper, gold futures seen opening lower
MUMBAI, Oct 31 (Reuters) - India's copper futures are expected to open lower on Friday tracking markets in London, analysts said.
London copper extended losses on Friday after a 10 percent overnight slide following data that showed a contraction in the U.S. economy.
U.S. gross domestic product shrank at a 0.3 percent annual rate in the third quarter, which is the sharpest pullback by consumers since 1980.
The benchmark November copper MCCX8 on the Multi Commodity Exchange of India (MCX) on Thursday ended down 9.77 percent at 207.75 rupees. It may open around 205-204 rupees per kg, one analyst said.
Copper prices are expected to trade weak later in the day on piling inventories and ongoing demand concerns, the analyst added.
October zinc MZIV8 ended down 8.82 percent at 54.8 rupees and lead for October delivery MLDV8 ended down 4.96 percent at 72.75 rupees per kg.
GOLD:
India's gold futures are expected to open lower on the MCX on Friday, tracking overseas markets that slipped on a stronger dollar and a weaker crude oil, an analyst said.
The benchmark December gold MAUZ8 is likely to open around 11,740 rupees per 10 grams from its closing at 11,790 rupees on Thursday, the analyst added.
December silver MSVZ8 is seen opening around 16,625 rupees per kg from its closing at 16,678 rupees.
(Reporting by Ruchira Singh and Nandita Bose; Editing by Prem Udayabhanu)