China’s Ministry of Commerce (MOFCOM) is mulling over revising the country’s foreign #investment laws and is currently soliciting comments
'Farmer' The men behind you
Friday, December 27, 2013
Thursday, December 26, 2013
Indian Rupee Falls
Indian rupee weakened against the US dollar in morning deals on Thursday.
The rupee fell to a 2-day low of 61.915 against the greenback. Further weakness could help the rupee to find support at the 62.6 area.
The rupee fell to a 2-day low of 61.915 against the greenback. Further weakness could help the rupee to find support at the 62.6 area.
Tuesday, December 24, 2013
Russia Central Bank
The U.S. Federal Reserve's decision to scale back economic stimulus won't have a big effect on Russia's financial system."We do not foresee any significant effect or risks, and there is no need to factor (the tapering) into our monetary policy," Kseniya Yudayeva
Emerging-market currencies dropped in the days after the announcement. Stock markets in Brazil, Indonesia and other emerging economies also slumped. Ms. Yudayeva said the ruble exchange rate won't be affected much. Capital outflow from Russia is driven by internal factors and likely won't increase considerably, she said.
She said the bank has no plans to support the Russia currency and that its stress tests show the financial system can withstand external shocks from the tapering.
Emerging-market currencies dropped in the days after the announcement. Stock markets in Brazil, Indonesia and other emerging economies also slumped. Ms. Yudayeva said the ruble exchange rate won't be affected much. Capital outflow from Russia is driven by internal factors and likely won't increase considerably, she said.
She said the bank has no plans to support the Russia currency and that its stress tests show the financial system can withstand external shocks from the tapering.
Rmseed downtrend
Rmseed calendar spread between current & far month contract has risen from discount of ₹160 to ₹170 which signalled downtrend
Monday, December 23, 2013
Gold downtrend
#Gold far month contract is nearly trading at discount of ₹650 which is not a good sign caution for buyers
Friday, December 20, 2013
Gold Sinks Below $1,200
The price of gold slumped below $1,200 an ounce Thursday, a day after the Federal Reserve said it would pull back on its stimulus program.
Gold went as high as $1,900 an ounce in August 2011 partly because traders feared that the Fed’s efforts to support the U.S. economy with easy money policies would cause inflation. That never happened.
The price of silver also fell sharply. The March contract fell 87.3 cents, or 4.4 percent, to $19.186 an ounce.
High-grade copper for March delivery fell 2 cents, or 0.7 percent, to $3.2955 a pound. March palladium fell $3.15, or 0.5 percent, to $693.30 an ounce and January platinum fell $24.30, or 1.8 percent, to $1,318.40 an ounce.
In other trading, crude oil rose 97 cents, or 1 percent, to $98.77 a barrel.
Wholesale gasoline futures rose 4 cents to $2.74 a gallon and heating rose 2 cents to $3.03 a gallon. Natural gas rose 21 cents to $4.46 per 1,000 cubic feet.
Gold went as high as $1,900 an ounce in August 2011 partly because traders feared that the Fed’s efforts to support the U.S. economy with easy money policies would cause inflation. That never happened.
The price of silver also fell sharply. The March contract fell 87.3 cents, or 4.4 percent, to $19.186 an ounce.
High-grade copper for March delivery fell 2 cents, or 0.7 percent, to $3.2955 a pound. March palladium fell $3.15, or 0.5 percent, to $693.30 an ounce and January platinum fell $24.30, or 1.8 percent, to $1,318.40 an ounce.
In other trading, crude oil rose 97 cents, or 1 percent, to $98.77 a barrel.
Wholesale gasoline futures rose 4 cents to $2.74 a gallon and heating rose 2 cents to $3.03 a gallon. Natural gas rose 21 cents to $4.46 per 1,000 cubic feet.
Thursday, December 19, 2013
FED ANNOUNCES IT WILL BEGIN DRAWDOWN OF QUANTITATIVE EASING
The Federal Reserve on Wednesday sent its strongest signal of confidence in the U.S. economy since the Great Recession, deciding that the nation’s economic prospects are finally bright enough to withstand a slight pullback in stimulus spending
Yet the Fed also made clear that it will keep supporting an economy that remains less than fully healthy. It will continue to keep interest rates low and try to boost unusually low inflation, which can be a drag on spending and borrowing
In a statement after a two-day policy meeting, the Fed said it would trim its $85 billion a month in bond purchases by $10 billion starting in January. Bernanke said the bank expects to make “similar moderate” cuts in its purchases if economic gains continue
Immediately after the Fed said it would reduce the pace of monthly asset purchases to $75 billion from $85 billion, #gold prices fell from their Comex settlement price then recovered to trade a bit higher
The bond-buying program, also known as quantitative easing, has been a supportive factor for gold prices so some analysts expected that a decision to taper the program would pressure gold prices
Yet the Fed also made clear that it will keep supporting an economy that remains less than fully healthy. It will continue to keep interest rates low and try to boost unusually low inflation, which can be a drag on spending and borrowing
In a statement after a two-day policy meeting, the Fed said it would trim its $85 billion a month in bond purchases by $10 billion starting in January. Bernanke said the bank expects to make “similar moderate” cuts in its purchases if economic gains continue
Immediately after the Fed said it would reduce the pace of monthly asset purchases to $75 billion from $85 billion, #gold prices fell from their Comex settlement price then recovered to trade a bit higher
The bond-buying program, also known as quantitative easing, has been a supportive factor for gold prices so some analysts expected that a decision to taper the program would pressure gold prices
Tuesday, December 10, 2013
US Dollar Weakens Against Most Majors
The US dollar fell sharply against most major opponents in the Asian session on Tuesday, even though the possibility of reduction in the Federal Reserve's bond purchase program loomed near.
Following a raft of upbeat US economic data last week, the traders have been pricing a withdrawal of stimulus measures in the near future. The comments from Federal Reserve officials yesterday supported the view that Fed may start tapering as early as next meeting.
Following a raft of upbeat US economic data last week, the traders have been pricing a withdrawal of stimulus measures in the near future. The comments from Federal Reserve officials yesterday supported the view that Fed may start tapering as early as next meeting.
The Federal Reserve may taper their USD85 billion dollar per month asset purchase plan next week in response to better-than-expected jobs growth, said James Bullard, the president of the St. Louis Federal Reserve Bank.
A small taper might recognize labor market improvement while still providing the [Fed] the opportunity to carefully monitor inflation during the first half of 2014," Bullard said.
The risks associated with the Federal Reserve's unprecedented support measures are beginning to outweigh further benefits, according to Richmond Fed President Jeffrey Lacker.
Wednesday, November 20, 2013
Silver Likely to Decline
At
the end of the previous week, the white metal (similarly to gold) moved
higher after Federal Reserve Chair Nominee Janet Yellen told that
monetary stimulus tools shouldn't be removed too soon.
On Monday, two top Fed officials from opposite sides of the policy spectrum, fueled expectations that the Federal Reserve could taper its bond buying program. Their comments pushed the price of silver to slightly above $20. Although yesterday Bernanke said that the Fed will maintain ultra-easy monetary policy for as long as needed, silver extended declines for a second session and hit a fresh three-month low. This, by itself, is a sign of weakness.
The price of the white metal is down approximately 33% this year, to some extent on concerns the Fed would begin cutting back its easy-money policy by trimming its $85-billion monthly bond purchasing program.
On Monday, two top Fed officials from opposite sides of the policy spectrum, fueled expectations that the Federal Reserve could taper its bond buying program. Their comments pushed the price of silver to slightly above $20. Although yesterday Bernanke said that the Fed will maintain ultra-easy monetary policy for as long as needed, silver extended declines for a second session and hit a fresh three-month low. This, by itself, is a sign of weakness.
The price of the white metal is down approximately 33% this year, to some extent on concerns the Fed would begin cutting back its easy-money policy by trimming its $85-billion monthly bond purchasing program.
Wednesday, November 13, 2013
Precious Metal
QE3 tapering impact is now showing in market as all metals whether precious or semi precious are turned red which will last for another few days
Monday, November 11, 2013
Gold falls as market looks past Federal Reserve statements
Gold prices fell after the
Federal reserve left monetary policy unchanged, though markets were
expected slightly more dovish language from the U.S. central bank's
statement, which gave room for the dollar to rise
On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at USD1,344.30 during U.S. afternoon hours, down 0.09%
The Federal Reserve on Wednesday left its key benchmark lending target, the fed funds rate, unchanged at 0.25% and kept its USD85 billion monthly asset-purchasing program in place.
On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at USD1,344.30 during U.S. afternoon hours, down 0.09%
The Federal Reserve on Wednesday left its key benchmark lending target, the fed funds rate, unchanged at 0.25% and kept its USD85 billion monthly asset-purchasing program in place.
Friday, September 13, 2013
Five-day conclave for small business units
The state micro and small scale enterprises and textiles (MSSET)
department is in the process of forging a partnership with IIM Calcutta
and The Indus Entrepreneurs (TIE) to kick-start an entrepreneurship
movement in the state through a five-day Bengal business conclave.
With 43,000 registered and 20.8 lakh unregistered micro, small and medium enterprises (MSMEs) that provide employment to 58.5 lakh people, the state ranks second in the country in terms of the number of units. "To clear the roadblocks faced by the units, we are setting up MSME clinics at the conclave," said the state's MSSET secretary Rajiv Sinha
With 43,000 registered and 20.8 lakh unregistered micro, small and medium enterprises (MSMEs) that provide employment to 58.5 lakh people, the state ranks second in the country in terms of the number of units. "To clear the roadblocks faced by the units, we are setting up MSME clinics at the conclave," said the state's MSSET secretary Rajiv Sinha
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