Reuters reported that India copper futures are likely to open flat following overseas market and a weaker rupee could aid sentiment later in the session.
Analysts said that the most-active copper for August delivery MCCc1 on the Multi Commodity Exchange closed flat at INR 433.45 per kilogram. LME copper was steady supported by a rise in June copper imports into China and continuing supply disruptions, but a gloomy US jobs and Chinese inflation data is expected to weigh on sentiment. The rupee plays an important role in determining the landed cost of the red metal which is quoted in dollars.
India gold futures are likely to open flat following a similar trend in foreign markets. Overseas spot gold was steady, as the dimmed outlook for the US economy and persistent worries about euro zone nations' debt problem supported sentiment. The most traded gold for August delivery on the MCX closed 0.13% higher at INR 22,351 per 10 grams.
