India copper, gold to open higher on global leads

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Mumbai: India copper futures may open higher on Friday in step with markets in London, an analyst said.

Shanghai copper prices rose 2.2 percent on Friday, dragging London futures up with them on market speculation that Shanghai exchange stocks could fall 30 percent when weekly data is released after the market closes.

"We expect sideways movement in copper and should be mainly in the range of 157-165 (rupees)," said an analyst at a commodity brokerage.

The benchmark February contract on the Multi Commodity Exchange (MCX) ended the last session lower by 1.6 percent at 160.20 rupees per kg. It may open at around 162 rupees, the analyst said.

January zinc ended at 60.60 rupees per kg, while lead for January closed at 55.50 rupees per kg.

Gold:

Gold futures are expected to open higher tracking overseas futures market, an analyst said.

At 9:30 a.m., COMEX gold for February delivery traded near its day's high of $821.1 an ounce, higher by 1.71 percent.