MUMBAI: India gold futures are likely to open lower on Friday on a firm rupee, though bargain-buying may limit the downside, analysts said.
The most-active gold for October delivery on the Multi Commodity Exchange (MCX) last closed at 27,215 rupees per 10 grams.
International spot gold prices held steady on Friday as investors stood on the sidelines ahead of a key US payrolls report due later in the day, after recent data sent mixed signals about the status of the world's largest economy.
The rupee plays an important role in determining the landed cost of the yellow metal and copper, which are quoted in dollars.
COPPER:
Copper futures on MCX are likely to open lower on a firm rupee and a drop in the international market, analysts said. The most-traded copper for November delivery last closed at 422.55 rupees per kg.
