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India gold seen opening flat, copper down
MUMBAI |
MUMBAI Feb 7 (Reuters) - India's gold futures are likely to open steady on Tuesday morning, following overseas markets, though a stronger rupee could weigh on prices later, analysts said.
* The most-active gold for April delivery on the Multi Commodity Exchange (MCX) ended up 0.16 percent at 27,936 rupees per 10 grams in the previous session.
* Global gold was trading steady $1,720.70 an ounce, as investors remain focused on the development in Greece's struggle with its debt crisis after Athens delayed its decision on accepting the terms of a new bailout.
* The rupee plays an important role in determining the landed cost of the yellow and red metals, which are quoted in dollars.
COPPER
Copper futures are likely to open a tad lower following global markets and the stronger rupee, analysts said.
* The most-active copper for February delivery on the MCX ended 0.12 percent lower at 418.85 rupees per kg on Monday.
* London copper was trading 0.46 percent lower at $8,471 a tonne on Tuesday morning. (Reporting by Siddesh Mayenkar; Editing by Rajesh Pandathil)
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