India gold seen tad higher; copper down

MUMBAI Mon Mar 12, 2012 9:44am IST

A salesman displays gold bars inside a jewellery shop in Hyderabad May 6, 2011. REUTERS/Krishnendu Halder/Files

A salesman displays gold bars inside a jewellery shop in Hyderabad May 6, 2011.

Credit: Reuters/Krishnendu Halder/Files

Related Topics

MUMBAI (Reuters) - India gold futures are likely to open a tad higher on Monday following overseas leads and a weaker local currency, analysts said.

* The most-traded gold for April delivery on the Multi Commodity Exchange (MCX) last ended flat at 27,982 rupees per 10 grams.

* Overseas gold rose further on Monday as gains on the Nikkei helped it offset pressure from a firm U.S. dollar.

* The rupee, which fell on Monday morning, plays an important role in determining the landed cost of the dollar-quoted copper and gold.

COPPER

Copper futures are likely to open a tad lower on Monday in step with overseas markets, though a weaker rupee could limit the downside in prices, analysts said.

* The most-active copper for April delivery on the MCX last ended steady at 426.50 rupees per kg.

* London copper edged lower as persistent concerns about sluggish demand in China took the momentum out of a three-day rally.

(Reporting by Siddesh Mayenkar; Editing by Rajesh Pandathil)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Top News

REUTERS SHOWCASE

Mideast Conflict

Mideast Conflict

Israel says ready to extend short Gaza truce; death toll crosses 1000.  Full Article 

India-WTO Standoff

India-WTO Standoff

India threatens to derail WTO deal, prompts angry U.S. rebuke  Full Article 

Economic Pulse

Economic Pulse

New govt promises low and stable tax regime for economic revival.  Full Article 

IPO Probe Ends

IPO Probe Ends

Facebook says SEC's IPO probe ends, extending WhatsApp closing date  Full Article 

World Stocks

World Stocks

Goldman Sachs downgrades stocks to neutral for short term  Full Article 

Not Wanted

Not Wanted

Hard to see how Russia can ever be let back into G7 club - Canada PM.  Full Article 

Disappointing Results

Disappointing Results

Amazon's far-reaching ambitions, lack of profits, unnerve investors  Full Article 

Global Growth

Global Growth

IMF cuts outlook, warns of stagnation risk in rich nations  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage