MUMBAI, Nov 5 (Reuters) - India's gold futures may extend losses on Thursday profit-taking after hitting a record high in the previous session, analysts said.
The benchmark December gold MAUZ9 on the Multi Commodity Exchange (MCX) closed 0.2 percent lower at 16,588 rupees per 10 grams, after hitting a record high of 16,677 rupees.
December gold is likely to open at 16,580 rupees per 10 grams, said Aurobinda Prasad, deputy manager-research, Karvy Comtrade.
"There could be profit-taking in gold, and further directions could come in from (U.S.) data due later. Support would be seen at 16,480 rupees," said Prasad.
Gold may trade in the range of 16,530-16,750 rupees, said Murukesh Kumar, senior analyst with JRG Wealth Management.
COPPER:
India's copper futures may open flat as support from a weak rupee is likely to be offset by rising inventory in the London Metal Exchange, analysts said.
The most-traded November contract MCCX9 on the Multi Commodity Exchange of India (MCX) ended 0.3 percent higher at 309.45 rupees per kg in the previous session.
November copper may open at 308.50 rupees, said Abhishek Chauhan, technical analyst, Angel Commodities.
