RTRS: India copper, gold seen flat as overseas mkt settles
India copper futures are expected to open little changed on Tuesday tracking overseas leads, an analyst said.
Three-month copper on the London Metal Exchange last steadied at $2,910 a tonne largely supported by a weaker dollar. The benchmark February contract MCCG9 on the Multi Commodity Exchange ended at 144.65 rupees per kg. The contract may open at around 145 rupees per kg.
"We expect sideways consolidation in copper ahead of the year-end," said Harish Galipelli, head of research with Hyderabad-based Karvy Comtrade.
The red metal may trade in the range of 141-147 rupees for the day, the analyst said..
December zinc MZIZ8 ended at 54.15 rupees per kg, and December lead MLDZ8 closed at 44.65 rupees per kg.
GOLD:
Futures may open flat, but with a slight positive bias, in step with international markets, an analyst said.
Overseas gold steadied above $870 on Tuesday, hovering within sight of a 11-week high hit the previous day, with sentiment underpinned by conflict in the Middle East, firm oil prices and a weaker U.S. dollar. The benchmark February contract MAUG9 may open at around rupees per 13,650 rupees per 10 grams and may trade in the range of 13,500-13,810 rupees for the day, he added.
It closed at 13,635 rupees per 10 grams in the previous session.
