RTRS: India copper seen opening lower, gold may rise
MUMBAI, Nov 4 (Reuters) - India's copper futures are expected to open slightly lower on Tuesday tracking markets in London, analysts said.
Trade is expected to be low-key across all markets ahead of the U.S. presidential election later in the day, analysts said.
The benchmark November copper MCCX8 on the Multi Commodity Exchange of India (MCX) on Monday ended down 3.92 percent at 203.2 rupees. It may open around 203-202.5 rupees per kg, one analyst said.
Copper prices are expected to be steered later in the day by the movement of the dollar, which was steady against the euro after falling on Monday, the analyst added.
November zinc MZIX8 ended down 1.47 percent at 57.1 rupees and lead for November delivery MLDX8 ended down 3.19 percent at 72.7 rupees per kg.
GOLD:
Indian gold futures are likely to open higher on firm overseas market and a weak rupee, but falling oil prices may restrict the gains, analysts said.
Overseas gold gained as much as 1 percent on Tuesday to track a rebound in the equities market, with investors keeping an eye on the dollar ahead of expected interest rate cuts by major central banks and the U.S. presidential poll.
The benchmark December gold MAUZ8 on MCX is likely to trade between 11,500-11,780 rupees, an analyst said. The contract ended at 11,614 rupees per 10 grams, down 118 rupees, in the previous session.
(Reporting by Nandita Bose and Debiprasad Nayak; Editing by Sunil Nair)