MUMBAI, Nov 6 (Reuters) - India's copper futures are expected to open lower on Thursday tracking gains in the dollar and continuing demand concerns, analysts said.
The dollar gained against the euro, boosted by the likelihood of rate cuts by the European Central Bank later on Thursday. [USD/]
A stronger dollar makes dollar-denominated commodities expensive for other currency holders and caps demand.
The benchmark November copper MCCX8 on the Multi Commodity Exchange of India (MCX) ended down 5.89 percent at 195.9 rupees on Wednesday.
It may open around 193-192 rupees per kg, one analyst said.
Copper prices are expected to trade weak later in the day as demand shows no signs of recovery, the analyst added.
November zinc MZIX8 ended down 4.45 percent at 55.85 rupees and lead for November delivery MLDX8 ended down 3.29 percent at 72 rupees per kg.
GOLD:
India's gold futures are expected to open lower on the MCX on Thursday, in line with weak overseas markets on a strong dollar, but a weak rupee may restrict the losses, an analyst said.
The benchmark December gold MAUZ8 is likely to open at around 11,510 rupees per 10 gram from its closing at 11,559 rupees on Wednesday, the analyst said.
December silver MSVZ8 may open at around 17,120 rupees per kg from its closing 17,165 rupees. (Reporting by Nandita Bose and Siddesh Mayankar; Editing by Harish Nambiar)
