MUMBAI: Copper futures are expected to open little changed on Friday on the back of soft demand outlook and rising stocks, an analyst said. The benchmark August copper on the Multi Commodity Exchange of India (MCX) closed on Thursday at 320.05 rupees.
It may open around 320 rupees per kg, one analyst said. Copper prices are expected to trade steady later in the day after gaining slightly on bargain hunting on Thursday ,the analyst added. August zinc closed at 74.45 rupees and lead for August delivery ended at 90.5 rupees per kg. Nickel prices are expected to trade strong on Friday.
August nickel closed at 793.7 rupees. Nickel prices gained more than 5 percent on Thursday on short covering and news of a deferred expansion plan from Australia's Minara Resources Ltd, the world's second largest nickel miner.
GOLD: India's gold futures are expected to open lower on the MCX on Friday, tracking foreign markets that tumbled to a seven-week low, losing some of its shine as an alternate investment after the dollar strengthened, an analyst said.
The benchmark October gold is expected to open below 12,000 rupees per 10 grams from its closing at 12,028 rupees the previous day, the analyst added. Silver futures are also seen falling on the back of gold. September silver is likely to open around 22,750 rupees per kg from its close at 22,817 rupees, the analyst said.
It may open around 320 rupees per kg, one analyst said. Copper prices are expected to trade steady later in the day after gaining slightly on bargain hunting on Thursday ,the analyst added. August zinc closed at 74.45 rupees and lead for August delivery ended at 90.5 rupees per kg. Nickel prices are expected to trade strong on Friday.
August nickel closed at 793.7 rupees. Nickel prices gained more than 5 percent on Thursday on short covering and news of a deferred expansion plan from Australia's Minara Resources Ltd, the world's second largest nickel miner.
GOLD: India's gold futures are expected to open lower on the MCX on Friday, tracking foreign markets that tumbled to a seven-week low, losing some of its shine as an alternate investment after the dollar strengthened, an analyst said.
The benchmark October gold is expected to open below 12,000 rupees per 10 grams from its closing at 12,028 rupees the previous day, the analyst added. Silver futures are also seen falling on the back of gold. September silver is likely to open around 22,750 rupees per kg from its close at 22,817 rupees, the analyst said.
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