Iran sanctions are expected to provide support to bullion prices in the holiday-shortened week.Precious metals and crude oil are well supported at the lower levels - gold @ $617.40/oz, silver @ $12.52 and crude @ $61.50/bl.A ban on Iran's oil exports was not considered as oil producing nations, including Russia, is ensuring that crude prices remain firm. Traders are expecting any further development or use of military force on Iran will sure the help gold jump till $700 or more.Gold is seen moving in a range of $618-628 as $628 is seen as good resistance. A break of that level will make market positive with fresh buying till $640-643. Silver is expected to be in the range of $12.52-13.32 on news that Mexico silver production dropped to 1,28,081 kg in October, down by 41.5% from the year-ago period.
