Gold futures seen open higher; copper down

Gold bars are seen in a jewellery shop in the northern Indian city of Lucknow January 10, 2008.

MUMBAI (Reuters) - India gold futures are likely to open higher, recovering from Friday's sharp losses, following a similar trend overseas, analysts said.

* The most-traded gold for April delivery on the Multi Commodity Exchange (MCX) ended 0.26 lower at 27,891 rupees per 10 grams in the previous session, after losing 1.89 percent on Friday.

* Spot gold rebounded on Monday as Asian buyers rushed to snatch bargains after better-than-expected U.S. jobs data helped prices fall nearly 2 percent in the previous session.

* A stronger rupee could weigh on sentiment later in the day. The rupee plays an important role in determining the landed cost of the red and yellow metals, which are quoted in dollars.

COPPER

Copper futures are likely to open lower on Monday following overseas markets, and a stronger rupee back home, analysts said.

* The most-active copper for April delivery on the MCX ended flat at 424.10 rupees per kg in the previous session.

* London copper slipped on Monday as investors were cautious ahead of a looming deadline for Greece to accept the terms of a new bailout deal, offsetting encouraging U.S. jobs data that pushed prices up almost 3 percent in the previous session.

(Reporting by Siddesh Mayenkar)