India copper to open slightly lower; gold flat

MUMBAI Aug 21 (Reuters) - India's copper futures may open slightly lower on Friday as higher-than-expected U.S. jobless claims renewed concerns of a weak economic recovery, analysts said.

The most-traded August contract MCCQ9 on the Multi Commodity Exchange of India (MCX) ended 0.8 percent lower at 294.65 rupees per kg in the previous session.

MCX copper contract may open at 294 rupees, said Aurobinda Prasad, deputy manager-research, Karvy Comtrade. Copper may trade in the range of 288-297 rupees.

U.S. workers filing new claims for jobless benefits unexpectedly rose last week, as companies continued to cut payrolls amid uncertainty over the economic outlook. [ID:nN19383506]

"Copper's good support is towards 288.50-289 rupees levels, (we) expect corrective decline towards this level and find support there," said Paras Sejpal, an analyst with TransMarket Group Research.

The August zinc contract MZIQ9 closed 2.1 percent lower at 86.30 rupees per kg, while lead for August delivery MLDQ9 ended 2.5 percent lower at 87.25 rupees per kg in the last session.

GOLD:

India's gold futures may open flat, with investors eyeing the movements in dollar and crude for direction in the complex, analysts said.

The benchmark October gold MAUV9 closed 0.3 percent lower at 14,897 rupees per 10 grams in the previous session.

The contract is likely to open at 14,900 rupees per 10 grams, Abhishek Chauhan, technical analyst, Angel Commodities. "The trend is sideways and gold may move in between 14,800-15,000."

"The trend is still sideways as the direction is not clear. Gold may trade in the range of 14,810-14,940," said Kunal Shah, assiatant vice-president, Nirmal Bang Commodities.

(Reporting by Siddesh Mayenkar; Editing by Sunil Nair)