RTRS: India copper futures may open down, gold higher
MUMBAI, Oct 6 (Reuters) - India's copper futures are expected to open lower on Monday on growing worries that demand is slowing down significantly is likely to weigh on prices, an analyst said.
The benchmark November copper MCCX8 on the Multi Commodity Exchange of India (MCX) on Saturday ended down 0.94 percent at 277.9 rupees. It may open around 277-276.7 rupees per kg, one analyst said.
Copper prices are expected to trade weak later in the day on continued weak fundamentals, the analyst added.
October zinc MZIV8 ended down 0.27 percent at 74.95 rupees and lead for October delivery MLDV8 ended up 0.12 percent at 81.45 rupees per kg.
India's gold futures are seen opening slightly higher on Monday on the MCX even as overseas futures markets were slightly down, as the rupee weakened making dollar-priced precious metals more expensive locally, an analyst said.
The benchmark December gold MAUZ8 is likely to open around 12,880 rupees per 10 grams from its closing at 12,841 rupees on Saturday, the analyst added.
Silver futures are expected to fall taking cues from base metals.
December silver MSVZ8 is seen opening around 18,850 rupees per kg from its closing at 19,061 rupees.
(Reporting by Ruchira Singh and Nandita Bose; editing by Sunil Nair)