India gold, copper futures seen opening lower

Written by Agencies | Mumbai | Updated: Feb 27 2012, 20:36pm hrs
Gold, coppergold, copper
Indian gold futures are likely to open lower on Monday after rising 2 per cent last week, taking cues from resistance in overseas markets, analysts said.

* The most-active gold for April delivery on the Multi Commodity Exchange (MCX) last ended flat at Rs 28,664 per 10 grams.

* World gold prices slipped on Monday, extending losses from the previous session after posting the biggest weekly gain in a month.

* Global bullion prices rallied more than 3 per cent last week, as investors took relief after Greece secured a bailout and expectations of further monetary easing boosted gold's appeal as a good inflation hedge.

COPPER

Copper futures are likely to edge lower in line with London prices, analysts said.

* London copper futures fell for a third time in four sessions on Monday, hurt by a shaky outlook for industrial demand.

* The most-active copper for February delivery on India's MCX last ended 0.18 per cent lower at Rs 417.20 per kg.