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ET:India gold seen steady; copper lower in early trades
 
MUMBAI: Indian gold futures are likely to open steady on Tuesday tracking flat overseas markets and will take cues from the rupee, which was little changed in early trade, analysts said.

* The most-active gold for February delivery on the Multi Commodity Exchange (MCX) ended 0.06 percent lower at 27,779 rupees per 10 grams on Monday.

* The rupee plays an important role in determining the landed cost of the dollar-quoted yellow metal and copper.

* International spot gold hovered around $1,600 an ounce on Tuesday, as investors stayed on the sidelines in the final week of the year with lingering concerns about the euro zone debt crisis.

COPPER

Copper futures are likely to ease tracking the weak Chinese market, analysts said.

* The most-active copper for February delivery on the MCX closed 0.04 percent higher at 407.15 rupees per kg in the previous session.

* Shanghai copper edged down in early trades on Tuesday.

* The London Metal Exchange was closed for Christmas holidays.
Source