Analysts at BofA Merrill Lynch and Morgan Stanley are telling clients that gold is set to rally as Indian festival season gets underway. Looking ahead, history would indicate that November is usually a strong month with an average monthly gain of 3.8% thanks largely to the wedding and festival season in India. Analysts believe that bullion could mount a modest rally to the $1,350-$1,400/oz range over the next month or so. (VIEW LINK)
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