India copper, gold futures may open slightly lower
MUMBAI, July 6 (Reuters) - India's copper futures may open slightly lower on Monday as weaker-than-expected U.S. employment report last week fuelled concerns about an early economic recovery, analysts said.
The U.S. economy lost a higher than expected 467,000 jobs in June. [ID:nN01210643]
The most-traded August contract MCCQ9 on the Multi Commodity Exchange of India (MCX) ended up 0.3 percent at 242.15 rupees in the previous session.
MCX August copper may open at 240.50 rupees per kg, said Aurobinda Prasad, deputy manager-research, Karvy Comtrade. "Economic worries and lower equities could pressure prices later in the session. Support is pegged at 238 rupees."
The red metal may trade in the range of 237-243 rupees, said Abhishek Chauhan, technical analyst with Angel Commodities.
The July zinc contract MZIN9 ended at 74.60 rupees per kg, while lead for July delivery MLDN9 ended at 81.50 rupees per kg in the previous session.
GOLD:
India's gold futures may open slightly lower on strong dollar overseas, analysts said.
The benchmark August gold MAUQ9 closed 0.08 percent higher at 14,464 rupees in the previous session. The contract is likely to open at 14,450 rupees per 10 grams said Kunal Shah, assistant vice-president with Nirmal Bang Commodities. Continued...
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