MUMBAI: Gold futures are likely to open a tad lower on Friday morning following overseas markets, while a weaker rupee could limit the downside, analysts said.
* The most-active October gold on the Multi Commodity Exchange (MCX) last closed 2.3 per cent higher at 27,802 rupees per 10 grams.
* Global gold ticked down more than half a per cent, having risen sharply in the previous session, as investors digested US President Barack Obama's $447 billion jobs plan to spur economic growth and battle unemployment.
* Rupee hit a fresh one year-low on Friday making it the fifth consecutive session of decline dragged by euro's losses and strong dollar demand from domestic oil refiners.
* The rupee plays an important role in determining the landed cost of the yellow metal, which is quoted in dollars.
COPPER
Copper futures are likely to open a tad lower on Friday morning in step with overseas markets, analysts said.
* The most-active copper for November delivery on the MCX last closed 0.51 per cent higher at 424.75 rupees per kg.
* Three-month London copper was trading 0.32 per cent lower at $9,080 per tonne.
* China's annual inflation cooled slightly to 6.2 per cent in August from three-year highs in the previous month, matching expectations and lending support for a pause in Beijing's 10-month-long policy tightening campaign.
