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RTRS: India copper futures seen opening flat, gold up
 
MUMBAI, Oct 16 (Reuters) - India's copper futures may open flat on Friday as support from a weak dollar is likely to be offset by lingering demand concerns, analysts said.

The most-traded November contract MCCX9 on the Multi Commodity Exchange of India (MCX) ended up 0.3 percent at 290.85 rupees per kg in the previous session.

November copper may open at 290 rupees, said Aurobinda Prasad, deputy manager-research, Karvy Comtrade.

The euro rose its highest level in 14 months against the dollar as investors continued building long positions after positive U.S. data and encouraging earnings results, helping their risk appetite. [USD/]

Copper stocks in the warehouse monitored by the London Metal Exchange rose 100 tonnes to be at 353,325 tonnes. [LME/STX1]

"It may take some more correction on the downside due to rising stockpiles, lower equities," said Prasad. The range seen is 286-293 rupees, he said.

The market would be looking at the Chinese warehouse stocks data due later in the session for direction in the base metals complex. Stocks are expected to rise this week.

The October zinc contract MZIV9 closed 0.2 percent lower at 93.15 rupees per kg, while lead for October delivery MLDV9 ended up 0.4 percent at 101.40 rupees per kg in the previous session.
Source