India gold seen tad higher; copper down
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 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)
- Tweet this
- Share this
- Digg this
- India threatens to derail WTO deal, prompts angry U.S. rebuke
- Facebook says SEC's IPO probe ends, extending WhatsApp closing date
- Israel says ready to extend short Gaza truce; many bodies pulled from rubble
- Russia criticises EU sanctions, raps U.S. over Ukraine role
- UPDATE 4-Russia criticises EU sanctions, raps US over Ukraine role
New Prime Minister Narendra Modi is facing criticism for remaining silent about incidents deemed anti-Muslim in the past week, underscoring fears that his Hindu nationalist followers will upset religious relations in the multi-faith nation. Full Article
Amazon's far-reaching ambitions, lack of profits, unnerve investors Full Article