Alternative Investment
Gold prices in India plunge to lowest in two years
The price of gold in Bengaluru, for example, dipped to Rs.24,390 per 10 grams - the lowest since April 2013
Gold prices in India dipped further on Monday to below Rs.25,000 per 10 grams - the lowest in two years - with the precious metal losing its sheen on account of bulk sales in China and hopes of rate hike in the US.
With festive season some two months away, stakeholders were divided over the demand and the trend in prices in the medium term, even as the country continued to rank among the top three importers and consumers of gold.
According to reports, some 33 tonnes were sold in the Shanghai spot market on Monday as investors sought to shift focus to other avenues, primarily expecting the US Federal Reserves to increase its interest rates for the first time in nearly a decade.
The price of gold in Bengaluru, for example, dipped to Rs.24,390 per 10 grams - the lowest since April 2013.
"Rate remained at Rs.24,390 per 10gm in the local market, same as on previous two days after declining from Rs.24,450 on Friday and Rs.24,740 on July 12 due to lower demand and negative sentiment," Venugopala Shetty, proprietor of Ganesha Jewellers, told IANS in Bengaluru.
"It is expected there will be huge demand in a day or two," said Rahul Gupta, director of the Delhi-based P.P. Jewellers told IANS. "The situation is almost like that of April 2013 when the price dipped to Rs.25,500 per 10 grams and the demand surged overnight."
The development on Monday came despite India overtaking China as the largest importer of gold, at 769 tonnes in the last year.
"We expect the gold prices to fall by another Rs.30-40 per gram (22 carat) and settle down there," N. Anantha Padmanabhan, managing director of NAC Jewellers, told IANS in Chennai.
The falling gold price also pulled down the prices of silver. "Currently silver is priced at Rs.36,500 per kg. We expect it go down to Rs.35,000 per kg," said Padmanabhan. Noting the US dollar is strengthening and the interest rates are expected to go up there, he said that hence there is pressure on the gold prices.
The demand for gold in India for the first quarter (January-March) of 2015 was at 191.7 tonnes, up by 15 percent as compared to the corresponding period of 2014, World Gold Council (WGC) said in a report. Total jewellery demand in India for first quarter of 2015 was up by 22 percent at 150.8 tonnes as compared to 123.5 tonnes in Q1 of 2014.
"The current downswing in Indian gold prices is directly related to the strengthening of the US dollar in recent times. We are hoping that the present trend may be arrested soon and the prices could stabilize within a month or so," said Mumbai Jewellers' Federation president Rakesh Shetty.
However, this fall in gold prices - the lowest in the past five years - has spurred the demand in gold and other precious metals and we expect a buoyant market by Diwali, he added.
"There is a meltdown in the international commodity market in the last three-four weeks. But today the prices fell sharply as China sold around 6,065 tonnes of gold in the morning," Bachhraj Bamalwa, partner, Nemichand Bamalwa and past chairman of All India Gems and Jewellery Trade Federation told IANS.
He also mentioned that it is difficult to predict the price trend in the future.
"Gold is a hedge commodity and people tend to invest in the yellow metal when the global economy is hit. Now with the global economy seemingly recovering and the US dollar appreciating, people are investing in other options except gold," Premjit Sengupta, chief marketing officer, Senco Gold Ltd said in Kolkata.



Veeresh Malik

1 year ago

Willing to bet that gold prices internationally will fall another 20% over the next 4-5 months, down to about 900 dollars an ounce and with a resultant logical drop in India too.

Pulse Beat

Go Nuts for Longevity!

A recent Maastricht University (Germany) study found that those who consumed nuts daily (at least 0.3 ounces or 8.5gm) have a reduced risk of many serious chronic diseases: consumption of nuts reduces the risk of diabetes by 30%, of cancer by 39% and of degenerative neurological disorders (like Alzheimer’s and Parkinson’s disease) by a whopping 45%. A 30-year follow-up study from Harvard University found that those who consumed nuts daily were 20% less likely to die for any reason than those who did not consume such high amounts of nuts in their diet. However, another study, published in The Annals of Internal Medicine, found that, with a nut-rich diet, women did not live longer but did not have any chronic illnesses.

Dandelion: Weed with Yellow Flowers

A very powerful anti-cancer agent in this flower will amaze even cancer specialists. The most exciting study about dandelion’s anti-cancer abilities was published in Evidence-Based Complementary and Alternative Medicine (eCAM). The Department of Chemistry and Biochemistry at the University of Windsor, Ontario (Canada), in conjunction with the Windsor Regional Cancer Centre, tested the effects of an extract of dandelion root (taraxacum officinale) on melanoma—an aggressive form of skin cancer—and found that after 48 hours of exposure to dandelion extract, cancer cells begin to die off. The study also found that dandelion was effective on cancer cells that were resistant to chemotherapy. 
There are other research reports also on this plant. An herbal tea made from this plant has been shown to slow down the growth of some breast cancers as well as prostate cancer. The last study was published in the International Journal of Oncology.

Ahead to Nature

If you read this book, Ahead to Nature, it will give you lots of tranquillity in the midst of the hi-tech medical claptrap that makes you a patient. The author is a telecommunications engineer, who understands nature very well, and is currently exploring the meta questions behind ‘life’ and ‘sustainable living’.
The ‘Cartesian outlook’, fostered by our education system, makes us look at each of these problems in fragments. This book shows us how all of these problems are inter-related and deeply connected. Thus, the crisis is not merely ‘out there’. The crisis outside is merely a reflection of the ‘crisis within’. Hence, the solution for such problems needs to transcend the ‘outer’ and the ‘inner’. Therefore, the solution is essentially ‘spiritual’ or ‘metaphysical’ in essence. The author proposes that the spiritual solution, if implemented, will not ‘solve’, but ‘dissolve’ the problems, at all levels. The book provides a vivid description with several examples about “the beautiful coexistence and mutual cooperation that exists within nature,” says a review. I feel, the book will allay a lot of hypochondriasis and anxiety associated with it.

Powerful Anti-hypertensive

Beetroot seems to be a very powerful therapeutic tool in nature. A study by the London School of Medicine suggested that beetroot juice brought down even the normal BP of medical students and was found to be a powerful anti-hypertensive. Another study quoted often is an old study by Dr Alexander Ferenczi of the Department for Internal Diseases, Csoma (Hungary), in the late 1950s. “Using nothing but raw red beets, the doctor was able to record amazing results of remission in cancer patients.” Years later, this study was republished in the Australian International Clinical Nutrition Review.
A caution: Cancer patients should not drink too much of beetroot juice as the cancer cell breakdown products might overwhelm the kidneys. Small doses, regularly, will do the trick without any collateral damage.


India to log 236 mn mobile internet users by 2016: Report
India is projected to have 236 million mobile internet users by 2016, with the figure reaching 314 million by 2017, a report said here on Monday.
The country will have over 500 million internet users by 2017 as compared with over 350 million as of June 2015, 'India On The Go - Mobile Internet Vision Report 2015' pointed out. 
The report by Internet and Mobile Association of India (IAMAI) and KPMG said 2G user base in India is projected to decline in the coming years as more and more customers are expected to migrate from 2G to 3G.
The 3G user base in India is rapidly gaining market and is projected to grow at a compound annual growth rate (CAGR) of 61.3 percent from 2013-17.
There were approximately 82 million 3G subscribers in India by the end of 2014 and the number is projected to reach 284 million by end of 2017.
"It is imperative to connect Indians through the internet, of which the mobile internet will play a key role since reliable accessibility will be the killer app that will bind the internet ecosystem together, increase adoption and enable innovation in business models around voice and data services," Ashvin Vellody, partner - management consulting, KPMG, India, said.
"While the urban market has not reached its saturation point, it will be non-metros and rural India that will be driving the internet growth in India. And this is where mobile internet will play a pivotal role," Subho Ray, president, IAMAI, said.
"The advent of low-cost smartphones, coupled with low mobile tariffs, has empowered consumers in the hinterland to use data connectivity and we will seeing more usage of internet from these areas in the months to come," he added.


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