RTRS: India copper may open flat, gold slightly lower
India copper futures may open flat on Wednesday tracking overseas markets, an analyst said.
London Metal Exchange copper last traded almost unchanged at $2,929 a tonne as pressure from sluggish demand was offset by a weaker dollar.
The benchmark February contract MCCG9 on the Multi Commodity Exchange on Tuesday closed at 144.35 rupees per kg. It may open at around 144.50 rupees per kg, the analyst said. "We expect copper to consolidate at these levels due to a lack of fresh triggers," said an analyst with a commodity brokerage.
December zinc MZIZ8 closed at 54.25 rupees per kg, and December lead MLDZ8 ended at 46.70 rupees per kg.
GOLD:
Futures may open slightly lower in step with international markets, an analyst said.
Overseas gold softened on Wednesday in thin year-end trade but a stronger euro could offer support for the metal, one of few commodities to end the year firmer after an economic crisis hit demand but gave gold some safe-haven allure. See [ID:nSP204940]
The benchmark February contract on the MCX MAUG9 may open at around 13,400 rupees per 10 grams and trade between 13,300 rupees and 13,560 rupees for the day.
It closed at 13,442 rupees per 10 grams the previous session.