Gold is far from an over-owned trade and will eventually rally exponentially, Robin Griffiths, technical strategist at Cazenove Capital, told CNBC. He said: “I think not owning gold is a form of insanity. It may even show unhealthy masochistic tendencies which might need medical attention.”
http://www.investmentpostcards.com/
The site that promotes the advantages of physical gold particularly the gold dinar as stated in Holy Quran. The coming future, it is hoped that people start to realize its significance and crucial roles that can be played by gold dinar as a stabilizer in economics as well as replacing papers' currency.
Rabu, 12 Januari 2011
Gold imports may jump 64% in 2011: Trade body
Gold imports in India, the world's largest consumer, are likely to jump 64 per cent to 500-550 tonnes in 2011, driven by investment purchases that are likely to affect world prices, the head of a trade body told Reuters yesterday.
"If prices fall further to Rs 18,000-19,000 ($396-$418) per 10 grams, the import figure will be over 600 tonnes," said Prithviraj Kothari, president of the Bombay Bullion Association, a 400-member strong trade body.
Auspicious days for gold purchases for 2011
"Much would also depend on how monsoon pans out, inflation behaves and performance of the equity markets," Kothari said.
Monsoon rains play an important role in rural areas, which depend on agriculture and allied activities for sustenance and contributes to over 60 per cent of gold demand.
Demand in 2010 had been stronger after a 19 per cent decline in 2009, when the worst monsoon in nearly four decades dented sales.
Traders said the harvesting festival, which would start with pongal in Tamil Nadu, would set a strong pace for gold sales in 2011, followed by the wedding season next month.
Kothari said volumes on the Exchange Traded Funds are likely to jump 4 times to 50-60 tonnes as investors seek a safe hedge against rising inflation and diversify their portfolio to offset losses in the declining stock market. Prices of the yellow metal, which traded at $1,359 an ounce on Friday, are likely to fall to $1,270-1,300 by March-end weighed by a strong dollar overseas, Kothari said.
"This would be due to strong US dollar supported by strong economic indicators," he said. A rising dollar dims the yellow metal's appeal as an alternative investment.
Images: India again sees gold rush
Kothari said the Reserve Bank of India's decision to grant licenses to seven more banks to import bullion is a good sign for the gold trade. RBI has allowed 7 more banks to import gold and silver, taking the total to 30 banks, a move that will smoothen supply.
Karur Vysya Bank, Punjab and Sind Bank, South Indian Bank, State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore and State Bank of Travancore, are the new banks that have been given permission, data on RBI's website showed.
"If prices fall further to Rs 18,000-19,000 ($396-$418) per 10 grams, the import figure will be over 600 tonnes," said Prithviraj Kothari, president of the Bombay Bullion Association, a 400-member strong trade body.
Auspicious days for gold purchases for 2011
"Much would also depend on how monsoon pans out, inflation behaves and performance of the equity markets," Kothari said.
Monsoon rains play an important role in rural areas, which depend on agriculture and allied activities for sustenance and contributes to over 60 per cent of gold demand.
Demand in 2010 had been stronger after a 19 per cent decline in 2009, when the worst monsoon in nearly four decades dented sales.
Traders said the harvesting festival, which would start with pongal in Tamil Nadu, would set a strong pace for gold sales in 2011, followed by the wedding season next month.
Kothari said volumes on the Exchange Traded Funds are likely to jump 4 times to 50-60 tonnes as investors seek a safe hedge against rising inflation and diversify their portfolio to offset losses in the declining stock market. Prices of the yellow metal, which traded at $1,359 an ounce on Friday, are likely to fall to $1,270-1,300 by March-end weighed by a strong dollar overseas, Kothari said.
"This would be due to strong US dollar supported by strong economic indicators," he said. A rising dollar dims the yellow metal's appeal as an alternative investment.
Images: India again sees gold rush
Kothari said the Reserve Bank of India's decision to grant licenses to seven more banks to import bullion is a good sign for the gold trade. RBI has allowed 7 more banks to import gold and silver, taking the total to 30 banks, a move that will smoothen supply.
Karur Vysya Bank, Punjab and Sind Bank, South Indian Bank, State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore and State Bank of Travancore, are the new banks that have been given permission, data on RBI's website showed.
Afghan gold mine deal brings foreign investment
KABUL, Jan 10 (Reuters) - Afghanistan signed a deal on Monday with a local company backed by foreign investors to develop the country's second gold mine, a project the government hopes will attract more money to the war-torn region.
Afghan Krystal Natural Resources will invest up to $50 million in Qara Zaghan mine in northern Baghlan province and plans to begin production by 2013, said the company's president and prominent Afghan entrepreneur, Sadat Mansoor Naderi.
Investors from the United States, Britain, Turkey and Indonesia are backing the project through a deal facilitated by JPMorgan Chase & Co , Naderi said, adding it was not yet known what the mine's gold reserves were, but the firm intends to spend the next two years exploring the site.
Afghanistan is counting on huge mineral deposits, including some of the biggest unexploited copper and iron reserves in Asia, to wean it off its dependency on foreign aid. Copper production is also due to start in 2013.
"(We hope this will) encourage other investors to realise the opportunities and potential in Afghanistan," Minister of Mines Wahidullah Shahrani said. "We hope this initiative will help the government of Afghanistan attract more international investment."
Shahrani said the government would earn 26 percent royalties plus more in taxes from the Qara Zaghan mine. He said Afghanistan has estimated gold reserves worth between $20-25 billion.
Westland General Trading, owned by Haji Abdul Kabir, an ethnic Uzbek, is already developing the Nor Aaba gold mine near the Tajik border in northern Takhar province. [ID:nSGE6AP0C3]
Obstacles to developing Afghanistan's mineral deposits include a raging insurgency that makes transit and security big headaches, weak infrastructure that hinders shipments and massive corruption in both the private sector and government.
(Reporting by Michelle Nichols, editing by Daniel Magnowski)
Afghan Krystal Natural Resources will invest up to $50 million in Qara Zaghan mine in northern Baghlan province and plans to begin production by 2013, said the company's president and prominent Afghan entrepreneur, Sadat Mansoor Naderi.
Investors from the United States, Britain, Turkey and Indonesia are backing the project through a deal facilitated by JPMorgan Chase & Co , Naderi said, adding it was not yet known what the mine's gold reserves were, but the firm intends to spend the next two years exploring the site.
Afghanistan is counting on huge mineral deposits, including some of the biggest unexploited copper and iron reserves in Asia, to wean it off its dependency on foreign aid. Copper production is also due to start in 2013.
"(We hope this will) encourage other investors to realise the opportunities and potential in Afghanistan," Minister of Mines Wahidullah Shahrani said. "We hope this initiative will help the government of Afghanistan attract more international investment."
Shahrani said the government would earn 26 percent royalties plus more in taxes from the Qara Zaghan mine. He said Afghanistan has estimated gold reserves worth between $20-25 billion.
Westland General Trading, owned by Haji Abdul Kabir, an ethnic Uzbek, is already developing the Nor Aaba gold mine near the Tajik border in northern Takhar province. [ID:nSGE6AP0C3]
Obstacles to developing Afghanistan's mineral deposits include a raging insurgency that makes transit and security big headaches, weak infrastructure that hinders shipments and massive corruption in both the private sector and government.
(Reporting by Michelle Nichols, editing by Daniel Magnowski)
Sabtu, 1 Januari 2011
Kemalangan jalanraya di Malaysia tahap nazak
Di sana sini terdengar berita kemalangan jalanraya. Bilangannya semakin bertambah bila ada musim raya. Yang mati, mati, yang patah, patah, yang koma, koma. Semua jenis kemalangan ada. Saya memang dapat membayangkan situasi di mana seorang budak perempuan 6 tahun yang terjatuh motor ditunggangi emaknya dalam keadaan menangis mencari emaknya, dirempuh pula motosikal yang lain dan tercampak sejauh 10 meter. Tuan-tuan boleh baca di sini. Memang tersangat sedih bila mendengarnya kerana anak saya pun bakal bersekolah pada Isnin depan dan sudah tentu cerita sebegini sangat dekat dengan diri saya. Sebenanrnya ini hanyalah sekelumit kejadian yang berlaku dan masih banyak kemalangan yang dahsyat namun kejadian kemalangan di dalam akhbar hari ini betul-betul signifikan dari segi realitinya dan sememangnya menunjukkan kemalangan jalanraya di Malaysia masih jauh daripada penyelesaiannya.
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