we may see a weak ruppee if opec supply crude ...let see what happen

LONDON  - Gold slipped in afternoon trade as the dollar
strengthened a touch after firm third-quarter GDP numbers from the US, which
have thrown the Fed's expected rate cut next month into some doubt, analysts
say.
   The greenback had already bounced back this morning from its overnight
losses after Wall Street's sterling performance yesterday, when stocks gained
some 2.5 pct, their best day in over four years.
   The GDP numbers, which showed economic activity grew at its fastest pace in
four years, have further underpinned the currency. Gold is seen as an
alternative investment to the dollar and typically trends in an inverse
relationship to it.
   "A lot of the activity we have seen above the 800 usd level was on
expectations of an interest rate cut," said Kitco Bullion Dealers' analyst Jon
Nadler.
   "Perhaps the reading today will make people think they have cut enough."
   At 2.34 pm, spot gold was trading at 795.40 usd per ounce, a day low,
against 804.05 usd in late New York trade yesterday. Earlier it touched 807.90
usd.
   The US economy grew at a 4.9 pct annual pace in the three-month period, a
full percentage point higher than the 3.9 pct gain originally estimated and the
fastest pace since the third quarter of 2003.
   Such growth has provided a fillip to the ailing US currency, which has been
languishing near record lows against the major currencies.
   Oil prices, which rose today after an explosion damaged a key pipeline
linking the US and Canada, have also underpinned gold's recent gains.
   However, analysts fear that support may dissipate if OPEC opts to hike oil
production at its next output meeting in December, which could send crude prices
lower.
   "If OPEC does increase output, which it has the capacity to do .... I
suspect the oil market will prove to be a drag on gold going forward, while it
has been supportive before," said HSBC analyst James Steel.
   Elsewhere, platinum eased in sympathy with gold to 1,430 usd an ounce
against 1,437 usd in late New York trade yesterday.
   Meanwhile its sister metal palladium was trading at 338 usd against 342 usd.
   Silver also edged down to 14.16 usd an ounce from 14.35 usd .

GAURAV