Discrimination faced by Mumbaikars...

If the housing societies in Mumbai (Bombay) are only meant for families (married couples), then the government of Maharashtra should make marriage compulsory in the state/city.
Or else the government should tell its citizens where will Unmarried, Divorcees, Bachelors, Spinsters live in the city of skyscrapers or is Bombay only for those who have families.
This is one of the greatest mental blocks of Mumbaikars, who otherwise want to bask in the FALSE HALO of Cosmopolitanism.
This disease (of not giving apartments to Bachelors, Muslims, etc on rent) is specially prevalent in housing societies where the Gujaratis, Marathis and North Indians (to some extent) abound; while the rest of the population is more or less okay with the concept.
The government of Maharashtra should take this matter seriously and devise laws to eradicate this malice ASAP, so that BOMBAY (and its suburbs) becomes free of discrimination based on Marital Status, Religion, etc. Or else the Honourable Supreme Court of India should step in, and give directions to the state or central governments -- so that the fundamental rights of its citizens enshrined in the constitution of India is not violated.

Friday, August 23, 2013

Gold Jumps to 11-Week High as Housing Spurs Stimulus Bets
Gold jumped to a 11-week high after sales of new U.S. homes fell more than forecast, boosting speculation that the Federal Reserve will maintain fiscal stimulus to aid the economy. Platinum rose to a four-month high.

Sales of newly built homes in July plunged more than 13 percent, the most in more than three years, government data showed today. The 394,000 annualized pace compared with a drop to 487,000 forecast by analysts in a Bloomberg survey. Fed policy makers said they are “broadly comfortable” in scaling back debt purchase if the economy strengthens.

“The new home-sales data tells us that all is not well with the economy, and the Fed needs to continue to support growth,” Tom Power, a senior commodity broker at R.J. O’Brien & Associates in Chicago, said in a telephone interview. “The housing recovery is an important thing that the Fed will be looking at when it makes its decision on the timing of the tapering.”

Gold futures for December delivery rose 1.9 percent to $1,396.40 an ounce at 11:46 a.m. on the Comex in New York. Earlier, the price reached $1,398.40, the highest since June 7.

The metal headed for the third straight weekly gain partly on signs that demand for jewelry, bars and coins is increasing in Asia. The World Gold Council estimates that sales will reach as much as 1,000 metric tons this year in both China and India, the world’s largest buyers.

Through yesterday, gold dropped 18 percent this year, entering a bear market in April, as some investors lost faith in the metal amid an equity rally and low interest rates.
12-Year Rally

Gold climbed every year since 2001. The metal rose 70 percent from December 2008 to June 2011 as the Fed pumped more than $2 trillion into the financial system by purchasing debt.

Platinum futures for October delivery rose 0.3 percent to $1,544.80 an ounce on the New York Mercantile Exchange. Earlier, the price reached $1,548.50, the highest since April 10.

In 2013, demand will outpace supplies for the second straight year, partly as strikes by workers in South Africa, the biggest producer, and rising costs curb output, according to Barclays Plc.

Silver futures for December delivery climbed 3.2 percent to $23.815 an ounce on the Comex. Earlier, the price reached $23.835, the highest since May 13. Trading was 48 percent above the average for the past 100 days for this time, data compiled by Bloomberg showed.

The price headed for the fifth straight weekly gain, the longest rally since September.

To contact the reporter on this story: Debarati Roy in New York at droy5@bloomberg.net

To contact the editor responsible for this story: Steve Stroth at sstroth@bloomberg.net
Courtesy: Bloomberg.com