Gold seen steady; copper to nudge lower

International spot gold eased on Monday after surging 3.2 percent in the previous session.

The rupee plays an important role in determining the landed cost of the yellow metal and copper,which are quoted in dollars. The rupee eased in early trades on Monday.

COPPER:

Copper futures on MCX are likely to nudge lower tracking losses in the London market,though a weak rupee may limit the downside,analysts said.

The most-traded copper for November delivery ended 0.13 per cent higher at 420.2 rupees per kg in the previous session.

Three-month copper on the London Metal Exchange was down 0.44 per cent at 9,036 a tonne by 9:12 am,after falling 0.8 per cent on Friday.