Gold Price is Expected to Gain Supports from Festive Buying in India

WTI crude oil price fell from a 2-week high in European session as Hurricane Irene has done less damage on oil infrastructure than previously expected. As pipelines, terminals and refineries did not seem to get hurt by the storm, oil production should remain intact. Gold price changed little at 1785/1800 level. Price may gain supports and rise as Indians extend purchases during the festive season.

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Gold Price is Expected to Gain Supports from Festive Buying in India