India copper futures may open flat to lower on Thursday pressured by a firmer rupee, an analyst said.
"Copper is expected to witness downward movement on higher rupee," said an analyst at a commodity brokerage, adding it may trade in the range of 152-162 rupees.
At 9:32 a.m., three-month copper in London traded slightly higher by 0.37 percent at $3,220 a tonne, after hitting a high of $3,280 earlier in the session.
The benchmark copper February contract MCCG9 on the Multi Commodity Exchange (MCX) ended the last session at 157.70 rupees per kg. It may open around 157 rupees, the analyst said.
January zinc MZIF9 ended at 55.90 rupees per kg, while lead for January MLDF9 closed at 53.60 rupees per kg.
GOLD:
Gold futures are expected to open flat to slightly lower tracking global markets, analysts said.
Overseas gold dropped slightly on Thursday to track a falling euro, but strong investment demand was likely to support prices, with ETF holdings hitting another record as fears about a worsening global recession lingered. The MCX February contract MAUG9 closed at 13,460 rupees per 10 grams in the previous session.
It may open around 13,440 rupees per 10 grams and trade in the range of 13,300-13,530 rupees, the analyst added.
