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Gold, Copper Futures Open Higher

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Indian gold and copper futures opened higher on Monday as a weaker rupee pushed up the landed cost of the dollar-quoted precious and industrial metal.

The most-active gold for April delivery on the Multi Commodity Exchange (MCX) was up 0.19 per cent at 28,075 rupees per 10 grams, extending gains for a fourth day after hitting more than a month low on Wednesday.

The most-active copper for April delivery on the MCX was up 0.08 per cent at 432 rupees per kg.

The rupee fell on strong demand for dollars from oil refiners and defence-related payments.

London copper edged higher, reflecting hopes that demand from top consumer China would pick up and that prices could rise further as the U.S. economy improves and global supplies remain tight.


(Reuters)


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economy news 3 commodities copper gold rupee