India gold futures may hit fresh record high; copper up

MUMBAI, Nov 9 (Reuters) - India's gold futures may strike another record high in early Monday trade taking support from a weak dollar overseas, enhancing the yellow metal's appeal as an alternative investment, analysts said.

The benchmark December gold MAUZ9 on the Multi Commodity Exchange (MCX) closed 0.1 percent higher at 16,645 rupees per 10 grams.

December gold is likely to open at 16,670 rupees per 10 grams, said Aurobinda Prasad, deputy manager-research, Karvy Comtrade.

"Weaker dollar is the main reason, which would support prices. It may possibly hit a new high, gold can go up to 16,750 rupees," said Prasad.

"The upside potential is seen till 16,750 rupees," said Gnanasekar Thiagarajan, director, Commtrendz Research.

The U.S. dollar fell on Monday while the New Zealand dollar led other commodity-linked currencies sharply higher after dairy giant Fonterra lifted its forecast payout to farmer shareholders by almost 20 percent. [USD/]

COPPER:

India's copper futures may open higher supported by a weak dollar overseas shrugging off weak U.S. jobs data, analysts said.

The most-traded November contract MCCX9 on the Multi Commodity Exchange of India (MCX) ended 0.03 percent higher at 305.55 rupees per kg in the previous session.