India copper futures are expected to open slightly lower on Wednesday tracking markets in London, analysts said. The benchmark April contract MCCJ9 on the Multi Commodity Exchange (MCX) closed about 3 percent higher at 207.10 rupees per kg. It may open slightly lower at about 206.80 rupees per kg, said Harish Galipelli, head of research with Karvy Comtrade in Hyderabad. At 9:33 a.m., London copper was 0.47 percent lower at $4,065 a tonne. However, analysts said copper could trade on the higher side on recovering equity markets and falling inventory. "It should resume its bull trend on renewed optimism about global economic recovery," said Galipelli. Copper may move in the range of 203-212 rupees for the day, said Navneet Damani, research analyst with Anand Rathi Commodities. April zinc MZIJ9 ended at 66.70 rupees per kg, while lead for April MLDJ9 closed at 64.50 rupees per kg. GOLD: Futures are likely to open flat to lower following global leads, analysts said. The benchmark June contract MAUM9 closed 0.4 percent lower at 15,064 rupees per 10 grams. It may open around 15,050 rupees per 10 grams, said Abhishek Chauhan, a technical analyst with Angel Commodities. At 9:33 a.m., May gold GCK9 in COMEX was 0.17 percent lower at $922.2 an ounce. Analysts said gold may perk up later in the session on the back of buying in Exchange Traded Funds by retail investors. The world's largest gold-backed exchange-traded fund, the SPDR Gold Trust GLD, said holdings were at a record 1,127.44 tonnes as of March 31, a level first reached on March 29. [GOL/SPDR]. "Gold is looking slightly bullish as the technical picture is looking better," said Gnansekar Thiagarajan, director with Commtrendz Research in Mumbai. "Gold has found good support at 15,000 rupees, and from here on it will gradually rise to 15,250 rupees," said Thiagarajan. Gold may trade in a range 14,800-15,170 rupees, said Angel's Chauhan

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