India's gold futures are seen opening lower coming off from a more than 2 month high tracking overseas losses though a weaker rupee could limit the downside in prices.

The most active gold for April delivery on the Multi Commodity Exchange closed 0.69% lower at INR 28,176 per 10 grams on Wednesday. The contract had struck a high of INR 28,434 in the previous session, a level last seen on December 14th 2011.

Global spot gold inched lower, after a nearly 1% drop in the previous session, as Greece was seen moving closer to a debt deal after talks that have dragged on for days. The rupee, which weakened on Thursday, plays an important role in determining the landed cost of the dollar quoted yellow metal as well as copper.

Copper futures are likely to nudge up at open aided by a weaker rupee. The most-active copper for February delivery on the MCX closed 0.87% higher at INR 424.90 per kilogram in the previous session. London copper was steady on Thursday, holding near this year's peak after a slight uptick in inflation from top copper consumer China.

(Sourced from economictimes.indiatimes.com)