MUMBAI, Nov 26 (Reuters) - India's copper futures on Wednesday are expected to open steady after pressure from negative data from the U.S. was offset by U.S. President-elect Barack Obama's assurance to the markets, analysts said. The U.S. Commerce Department revised the annual rate of decline in the third quarter gross domestic product to 0.5 percent from 0.3 percent reported last month.[nN25396155] However, Barack Obama's vows to cut billions of dollars from wasteful government programs eased some market concerns on the economy. The benchmark November copper MCCX8 on the Multi Commodity Exchange of India (MCX) on Tuesday ended down 1.25 percent at 181.6 rupees. It may open around 181-182 rupees per kg, one analyst said. Copper prices are, however, expected to trade weak later in the day on lack of fundamental support, analysts said. November zinc MZIX8 ended up 2.76 percent at 59.85 rupees and lead for November delivery MLDX8 ended down 1.67 percent at 58.8 rupees per kg. GOLD: Indian gold futures are likely to open down, tracking weakness in overseas markets, but firm oil prices and investment demand are likely to restrict the losses, an analyst said. Overseas gold fell 1 percent after the U.S. dollar bounced back against the euro and prompted selling from investors. Oil rose to above $51 a barrel on Wednesday, after a near 7 percent fall the previous day. Gold generally moves in tandem with oil as the latter signals inflation, while the metal negates it. The December contract on MCX MAUZ8 is likely to trade in a range of 12,800-13,200 rupees, an analyst said. It ended at 13,035 rupees per 10 grams, down 55 rupees, in the previous session. (Reporting by Nandita Bose and Debiprasad Nayak; Editing by Sunil Nair)

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