Indian gold futures are likely to extend the previous session's gains on Wednesday following a similar trend in overseas markets, though a stronger rupee could limit the upside, analysts said.
The most-active April gold on the Multi Commodity Exchange (MCX) last ended 0.47% higher at Rs 28,875 per 10 grams.
Overseas gold edged higher, after rallying 1% in the previous session, supported by expectations for more cheap loans to be offered by the European Central Bank later in the day.
The rupee, which opened stronger on Wednesday, plays an important role in determining the landed cost of the dollar-quoted gold and copper.
Copper
Copper futures are likely to open flat as support from global markets is expected to offset a stronger rupee at home, analysts said.
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The most-active copper for April delivery on the MCX last ended 0.47% higher at Rs 428.65 per kg.
London copper was 0.19% higher at $8,581.50 a tonne at 9:25 a.m.