MUMBAI: India's copper futures are expected to open a tad lower on Friday, tracking London markets and retreating from gains of the previous The benchmark June copper on the Multi Commodity Exchange of India (MCX) ended 3.5 per cent higher at Rs 255.85 on Thursday, when positive US data spurred buying.
At 9:41 am, London copper was 1.21 per cent lower at $5,310 a tonne.
It may open at Rs 254 per kg, said Pranav Mer, an analyst with India Infoline. "Some profit-taking is expected till 250/247 rupees."
Copper may trade in the range of Rs 250 - Rs 264, said Paras Sejpal, an analyst with TransMarket Group.
June zinc ended 6 per cent higher at Rs 80.40 and lead for June delivery ended 4.8 per cent higher at Rs 85.40 per kg in the previous session.
GOLD: India's gold futures may open slightly higher tracking overseas markets, where a weak dollar supported the yellow metal, analysts said.
The benchmark August gold closed 0.5 per cent higher at Rs 14,665 in the previous session.
The contract is likely to open at Rs 14,675 per 10 grams, said Kunal Shah, assistant vice-president with Nirmal Bang Commodities.
The dollar edged down against other major currencies after improved labour market and retail sales figures in the United States boosted optimism about the economy, eroding the dollar's allure as a safe haven.
"A declining dollar index would support gold and may move (up) till Rs 14,800 later," said Aurobinda Prasad, deputy manager-research, Karvy Comtrade.
