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Gold futures were lower on domestic exchanges as the rupee rose against the dollar.

mumbai, India (prHWY.com) March 8, 2013 - Bullion: Gold futures were lower on domestic exchanges as the rupee rose against the dollar. The ECB left its major policies unchanged after its regular policy-making meeting Thursday, helping the euro gain against the U.S. dollar. A weaker dollar tends to support dollar-denominated gold futures, as it makes the precious metal cheaper for buyers using other currencies.

Metals: Base metal futures on domestic bourses were trading lower tracking appreciation in rupee against the US dollar, but a range-bound movement in benchmark contracts on the London Metal Exchange limited fall. LME base metals were moving in a narrow range with a slight upward bias due to weakness in dollar against the euro.

Energy: Domestic crude oil futures were trading slightly higher tracking rise in benchmark contracts on the New York Mercantile Exchange, but a firm rupee against the dollar capped upside. U.S. crude-oil futures prices were higher Thursday, trading near $91 a barrel on hopes that an improving jobs picture will boost oil demand.

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