Gold futures closed higher for the second straight session, finding support from strength in physical demand for the metal after heavy selling earlier in the week that ended with a loss of 7% in prices.

London copper dropped below $7,000 for a second day on Friday and was on track for its biggest weekly decline since 2011, after global growth worries and a historic sell-off in gold turned investors away from commodities.

Iron ore prices are unlikely to fall in the near future in the aftermath of Supreme Court's judgement to allow 50-odd Category-B mines in Karnataka to start operations after fulfilling all procedures.

Zinc futures for May traded lower by Rs 1.30, or 1.33%, to Rs 100.20 per kg in 247 lots.

Lead futures for April fell Rs 1.35, or 1.24% to Rs 107.35 per kg in 2,701 lots.

Copper futures for June declined by Rs 10.15, or 2.62%, to Rs 377.75 per kg in 1,525 lots.

Nickel futures for April dropped by Rs 9.70, or 1.16%, to Rs 823.90 per kg in 3,710 lots.

India’s iron ore exports are likely to come to a grinding halt during the current financial year (2013-14) owing to a combination of factors working against the industry.

Zinc futures for April traded lower by 55 paise, or 0.54%, to Rs 101.10 per kg in 1,119 lots.

Nickel futures for June dropped by Rs 9, or 1.04%, to Rs 860.10 per kg in 2 lots.

Lead futures for April fell by 80 paise, or 0.72%, to Rs 110.75 per kg in 91 lots.

Aluminium futures for April eased by 45 paise, or 0.39%, to Rs 102.40 per kg in 866 lots.