Gold metal Business

 Gold prices increased over 1% to Rs 30,308 per ten gram in futures trade today as investors indulged in building up fresh positions amid a firming trend overseas as the US Federal Reserve unexpectedly hold back from cutting economic stimulus. 
At the Multi Commodity Exchange, metal prices for delivery in October went up by Rs 318, or 1.06%, to trade above Rs 30,308 per ten gram, in a turnover of 868 lots. Similarly, the metal prices for delivery in far-month December shot up by Rs 163, or 0.88%, to Rs 30,110 per 10 gm, in a business volume of 121 lots.  
Globally, gold rose by $55.30, or 4.22%

MCX- world's no.3 commodity futures exchange

MCX-SX (multi commodity exchange-stock exchange)
with its 40-stock index SX-40, it is third full fledged bourse after BSE and NSE.
Globally MCX is no.1 in Silver and Gold ; No.2 in Natural gas, No.3 in Crude Oil.
The index allows fast entry for better free float and hedge against commodity price volatility.

It will begin trading in equities and equity derivatives from Monday.

Gold below 31k line

Driven by sharp fall in prices overseas, Gold fell to over two-month low of Rs 30,950 per 10 gram while silver nosedived by Rs 1,500 per kg.

While gold lost Rs 270 to Rs 30,950 per 10 grams, while silver loose Rs 1,500 to Rs 58,000 per kg.

sentiment weakened on global trend where precious metal's tumbled the most in more than four months to below $1,700 an ounce as US payrolls in October rose more than forecast, easing pressure on the Federal Reserve to expand monetary stimulus.

In New York, gold tumbled by 2.3 per cent to $1,675.20, the biggest drop since June 21. Silver also plunged 4.3 per cent to $30.85 an ounce, the biggest fall since June 21.

In India gold of 99.9 and 99.5 per cent purity fell by Rs 270 each to Rs 30,950 and Rs 30,750 per 10 grams, respectively. The metal had lost Rs 280 on Friday.

Sovereigns declined by Rs 50 to Rs 25,400 per piece of eight grams.

Silver ready tumbled by Rs 1,500 to Rs 58,000 per kg and weekly-based delivery by Rs 1,665 to Rs 57,635 per kg. The white metal had lost Rs 750 in the previous session.

Silver coins lost Rs 2,000 to Rs 74,000 for buying and Rs 75,000 for selling of 100 pieces.

OMG!!! Please save GOLD for me...

I was shocked after reading the first page of my newspaper. Gold has reached the mark of 32k :(
 the precious metal gained Rs. 320 to Rs. 32,300 per 10 gram in the Delhi market and has gained Rsthe precious metal gained Rs. 320 to Rs 32,300 per 10 gram in the Delhi market and has gained Rs. 1,555 in the last fortnight in the wake of continued uncertainty in Europe. In Mumbai, gold climbed up by Rs. 220 to end at Rs 31,700 per 10 gram from Wednesday's closing level of Rs. 31,480. In the international market, the yellow metal hit a six-month high of $1,701 an ounce, and is now twice as precious as it was in 2008, when the global financial crisis hit the economy. 1,555 in the last fortnight in the wake of continued uncertainty in Europe. In Mumbai, gold climbed up by Rs. 220 to end at Rs 31,700 per 10 gram from Wednesday's closing level of Rs 31,480. In the international market, the yellow metal hit a six-month high of $1,701 an ounce, and is now twice as precious as it was in 2008, when the global financial crisis hit the economy.
Sorry brokers for keeping this expectation that gold will come down to 28K as per my budget but it's not :( 
Now there is very strong possibility that it will shoot to 35K as well by the arrival of Hindu celebration Dhanteras. With the Rupee loss investors are making safe bet to Gold.

Play with Gold

 Gold inched down on this Friday as the
U.S. dollar rose following the release of weaker economic data
from China, but the metal keep remained on track for a weekly gain,
bolstered by hopes China most likely could move to 

stimulate  growth.

    Gold fell 0.5 percent to $1,608.82 an ounce by 1200
GMT but was still on track for a small weekly gain, having risen
on Thursday on hopes for stimulus measures by China after data
showed unexpectedly slow factory's activity.
 
    Asian shares and other financial markets weakened on Friday
after China's July trade data fell far short of expectations,
but downbeat Chinese economic figures have kept 

hopes alive that Beijing will do something to bolster growth. 

Asian market buzz today

HONG KONG: Asian markets plunged Thursday on growing fears of a regional slowdown after South Korea unexpectedly cut interest rates, and Japan's central bank's  major policy changes failed to boost growth.

Tokyo fell 1.48 percent, or 130.99 points, to end at 8,720.01, while Seoul closed down 2.24 percent, or 41 points, at 1,785.39.

Hong Kong stocks closed 2.03 percent, or 394.76 points, lower at 19,025.11, amid concern over the Chinese economy. But Shanghai ended up 0.46 percent, or 10.11 points, at 2,185.49.

 After weak June jobs figures, Sydney fell 0.70 percent, or 28.5 points, to end at 4,068.0 

By cutting its key interest rate 25 basis points to 3.00 percent, South Korea's central bank joined an international drive to ease the impact of the euro-zone debt crisis that threatens export-dependent Asian economies.

The European Central Bank and China's central bank cut their rates last week, while Brazil on Wednesday slashed its rate to a record low.

Surprise element is the Bank of Japan which took no major steps despite lowering its growth forecast for the fiscal year, to 2.2 from 2.3 percent,

Following a two-day policy meeting, the bank said it would keep rates steady at zero to 0.1 percent and fine-tuned a 70 trillion yen ($880 billion) asset-purchase programme but kept the size of the policy tool steady.

The bank said it would reduce the amount of fixed-rate loans it offers by five trillion yen and increase the purchase of treasury discount bills by the same amount, but analysts said the move would have little effect.

Asian stocks slipped very early in trade, following a lead in the US after the minutes of the Federal Reserve's June meeting showed the rate-setting committee split on whether to provide more stimulus.

Several top policymakers urged the central bank to look at new tools to bolster the financial system amid a weak recovery, but the minutes also showed the Fed split on how, when and if to provide more stimulus.

The Dow Jones Industrial Average landed to 0.38 percent.

On currency markets, the euro slipped early in European trade. It bought $1.2217 and 96.90 yen, from $1.2238 and 97.58 yen in New York late Wednesday.

The dollar goes weak to 79.31 yen from 79.74 yen in New York.

Gold was worth $1,566.81 an ounce at 0930 GMT, compared with $1,578.20 late Tuesday.

Gold making rush...

All-round selling emerged in the bullion market as gold prices hit a record Rs 30,000 for 10 gm in Mumbai on Saturday.

“There is no demand for gold. People are selling scrap gold or booking profits on their investments. Some are even exchanging old jewellery for new,” said Mr Prithviraj Kothari, President of the Bombay Bullion Association.

“The country has never seen gold at such high levels.” The price of gold (of 99.9 per cent purity) increased by Rs 905 to Rs 30,030 (for 10 gm) on global cues. The yellow metal jumped by 4 per cent Friday, its biggest gain in three years, in London and New York.

Weak data helping gold

Gold used in making ornaments (of 99.5 per cent purity) increased by Rs 890 to Rs 29,895. Silver increased by Rs 1,090 to Rs 54,750 a kg.

“Gold has gained because bearishness prevails in stocks and other commodities. Weak US employment data, the Euro Zone crisis and a drop in Chinese industrial production could drive investors to gold,” said Mr Jayantilal J. Chalani, President of the Madras Jewellers and Diamond Association.

At the global market, gold climbed 4 per cent to $1,629.41 a troy ounce before settling at $1,621. It is still off its record high of $1,889.70 seen in August last year.

Rupee depreciation is the key reason why gold prices have touched record levels, as imprinted by analyst

The rupee has dropped to 55.61 against the dollar from 50.70 at the beginning of this fiscal.

Gold and Silver- the rising star

 Both gold and silver rose for the third day in a row on the market here today on sustained buying by stockists and investors, driven by a firming global trend. 

The gold, which has gained Rs 880 in the last two sessions, advanced further by Rs 155 to Rs 29,475 per 10 grams. Silver rose further by Rs 500 to Rs 54,500 per kg. The metal has risen by Rs 1,700 in past two days.
Traders said sentiment remained bullish as gold rose to a week's high in global markets on renewed speculation that the Federal Reserve will announce additional stimulus to boost the US economy, increasing the demand for the precious metal as an inflation hedge.
Gold in New York rose by 1.1 per cent to USD 1,591.90 an ounce. Silver also rose by 2.5 per cent to USD 28.71 an ounce. 
With market showing so much negative news Investors shifting funds from volatile equity markets to surging bullion also fuelled the uptrend in the precious metals' prices 
On the domestic front, gold of 99.9 and 99.5 per cent purity added Rs 155 each to Rs 29,475 and Rs 29,335 per 10 grams, respectively. 
Sovereign too traded higher by Rs 50 to Rs 23,800 per piece of eight grams. 
Silver ready added Rs 500 to Rs 54,500 per kg and silver weekly-based delivery advanced by Rs 835 to Rs 54,585 per kg. 
Silver coins also spurted by Rs 1,000 to Rs 63,000 for buying and Rs 64,000 for selling of 100 pieces.

Happy Diwali

itz late but we still have the habbit to celebrate still have energy and stock :)
Here dhanteras is a occasion where people buy gold or some items as a good wish. tz a sort of investment. Now inflation is so high and market so volatile that middle class people face hard time to decide the way of investment. With all the thinking I find the best way of investment is to invest in Gold. Its an asset for future but then theres a also question of its quality so my dad gave a gud advice. I agree to dad and went straight to HDFC bank to buy gold. Bank provide certificate which gurantees its quality and moreover its not only an asset but also in future I can avail loan any time and too in less hassles.......
:)

Investment in a new Way

Investment in a new Way
Business, investments & strategy are known to be as a very serious stuff for very serious people unlike me. Uptill now I have been thru muh mutual fund investments, had trauma for the lossess in hundreds ( for me its like lakhs) too muh serious issues and I must say I am though not too muh but litle bad in planning and management ven it cums to ivestments. New Year, new plans and more positive look on the basis of which it is hoping that inflation will go down so as ressesion and there will be a uplift in market.
In India scenario is little bit diff. inflation is a major problem but now much major prob is the prie rise of onions whih is must averagely in every Indian kitchen.
Since its the first post of new year so want to start it on smile and am gonna tell you wats in the mind of Indian household wives on investment
INVESTMENT RETURNS
(1 YEAR %)
GOLD 28%
SILVER 80%
SENSEX 35%
&
"ONION  88%"
IF  I HAD PURHASED ONIONS OF ONLY 1 LAKH THEN THIS TIME I MIGHT HAD CELEBRATED MY NEW YEAR IN EUROPE
Waooo.....not a bad idea for sure hard core investors must had or have this thought at least their children can see raise in their pocket money :)
A Very Happy New Year..............

A different approach of investment

With so much market in fluctuations its seems there is much more concern in the mind of investors to think of safer ways of investment. With commodities going high specially Gold and Silver its time to invest into something new yet profitable. Thats wat the current market trend showing with the big investors opting for Energy's which directs to price rise of Energys. Gas prices already on rise so comes solar energy, though its not new as its wide acceptance has been noticed in Europe, South korea and China and USA.
Solar cells and panel manufacturerrs are coming into much notice, the one stock for capital I set is Yingli Green Energy.
Yingli's primary global markets include Germany, Spain, Italy, Greece, France, South Korea, China and the United States. On November 19, the company announced a gross margin of 33.3%, above its original guidance of 31-32%, and well above the 22.5% it posted the same period last year. Operating margin was reported at 22.4%. The company reported a profit of 465.1 million CNY ($68.2 million USD) up from 120.8 million CNY last year. That's nearly a quadruple increase in profit, with earnings per depositary share rising from 0.79 the previous year to 2.92 this quarter. Total revenue increased 48% to 3.28 billion CNY ($490.9 million USD). These numbers beat the analyst consensus of $478.2 million USD in revenue.

Gold prices are on the climb

Gold prices are continuing to soar in the global markets in the wake of India's decision to buy 200 tonnes of gold from the International Monetary Fund (IMF). Spot gold rallied to US$1,117.20 an ounce and was trading at at US$1,114.60 an ounce by 10.08 GMT versus US$1,105.30 an ounce last quoted late in New York.

US investment bank Goldman Sachs said gold could rise to record highs in a range from US$1,150 US$1,200 an ounce, driven by falling real interest rates and renewed buying interest by central banks.