India copper seen opening flat and gold may add to gains

Reuters reported that India's copper futures are likely to open on a flat in line with overseas market. The most active February copper MCCc1 on the Multi Commodity Exchange last closed at INR 445.45 per kilogram up 0.02%.
Mr Abhishek Chauhan senior analyst with Angel Commodities said that the contract may open at INR 446. Three month copper on the London Metal Exchange CMCU3 was trading 0.12% higher at USD 9,840 per tonne after losing 1% in the previous week. He said that bias for copper is on the higher side copper may face resistance at around 450 levels.
Analysts said that India gold futures are likely to extend gains on Monday morning following safe haven buying overseas. The most active April gold contract on MCX MAUc1 last closed at INR 20,548 per 10 grams up 0.05%.
Angel's Chauhan said that the contract may open at INR 20,570. Overseas gold rose to 7 week high as spreading unrest in the Middle East underscored its appeal as a safe haven asset. A strong rupee in the domestic market could limit the upside in prices.
They said that stronger rupee in the local market would cap the gains range seen is INR 20,500 to INR 20,650.

(Source: http://www.steelguru.com/metals_news/India_copper_seen_opening_flat_and_gold_may_add_to_gains/192309.html)