Gold seen recovering from 1-wk low, Copper may fall

India gold futures are likely to recover from their lowest level in a week helped by firm overseas markets, though a higher rupee could limit the upside in prices, analysts said.

* The most-active gold for February delivery on the Multi Commodity Exchange (MCX) last ended 0.2% lower at Rs 27,537 per 10 grams, after hitting a low of Rs 27,476, a level last seen on January 3.

* The rupee, which recovered in early trade, plays an important role in determining the landed cost of the dollar-quoted yellow metal.

* Overseas gold inched up and flirted with a key resistance level on Wednesday.

Copper

Copper futures are likely to open a tad lower weighed by global market, reversing from Tuesday's highest level in nearly a week.

* The most-active copper for February delivery on the MCX last ended 1.2% higher at Rs 403.95 per kg, after hitting a high of Rs 404.35, a level last seen on January 5.

* Copper fell for a second day in three in London on Wednesday.