March 14, 2012 / 4:27 AM / 6 years ago

India gold seen higher, copper down on rupee

MUMBAI, March 14 (Reuters) - India gold futures are seen opening higher on Wednesday, tracking firm overseas markets, while copper may ease weighed by gains in the rupee and a weak London market.

* The most-active gold for April delivery on the Multi Commodity Exchange (MCX) closed down 0.5 percent at 27,832 rupees per 10 grams on Tuesday.

* International spot gold regained some strength on Wednesday on bargain hunting after prices dropped about 2 percent in the previous session. [ID: nL4E8EE0C5]

* The most-active copper for April delivery on the MCX last ended 1.12 percent higher at 432.2 rupees per kg.

* The rupee, which gained in early trades on Wednesday, plays an important role in determining the landed cost of the dollar-quoted yellow and red metal.

* London copper prices traded slightly lower on Wednesday, off a one-week high hit in the previous session on upbeat data from the United States and Germany, and the Federal Reserve’s acknowledgement of signs of economic recovery. (Reporting by Rajendra Jadhav; editing by Malini Menon)

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