Presidential Elections: Support Dr.Meira Kumar

Bihar and Jharkhand governments have no choice but to support Dr.Meira Kumar. As defeat of "Bihar ki Beti" will invariably bring Shame to the Biharis and Jharkhandis (or erstwhile unified Bihar). Do you think that, people of Bihar will leave Nitish Kumar Scott - free, if Dr.Meira Kumar loses ? So, Nitish Kumar has very little option left but to support, Dr.Meira Kumar.

Moreover, if Nitish Kumar wants to fall in the BJP's well calculated electoral TRAP no one can save him in the next election.

Also, I am surprised to see Mr.Navin Pattanayak, so easily chewing the RSS bait. Orissa is a state, where there is large chunk of Tribal Christian voters loyal to the BJD (Biju Janata Dal). I am still to fathom, BJD's sudden electoral gamble of siding with the RSS and the BJP; when Mr.Pattanayak has been maintaining distance from them since some time.

Besides, the election of Dr.Meira Kumar, who is educated, experienced and very sober, might also correct some of the historical mistakes of not making her father, the Prime Minister of India.

Also, I don't think all the Muslim and Christian MPs and MLAs from the TDP and TRS will ever support a RSS backed Candidate, who acted against Dalit Christian and Muslin reservations. Therefore, invariably cross voting will take place, which might give the underdog, Ms.Kumar, a win. Support Dr.Meira Kumar, give a conscience vote and make her the 2nd Female President of India.

All the best to Dr.Meira Kumar.....👍✌

Friday, January 17, 2014

Gold futures mark first gain in three sessions
SAN FRANCISCO, 16 Jan, 2014 — Gold futures settled higher on Thursday as a decline in U.S. equities and weakness in the dollar helped prices score for their first gain in three sessions.

Gold for February delivery GCG4 +0.28%  rose $1.90, or 0.2%, to settle at $1,240.20 an ounce on the Comex division of the New York Mercantile Exchange. March silver SIH4 -0.22%  extended its losses to a third straight session, losing 8 cents, or 0.4%, to $20.05 an ounce.

Gold futures had tallied a loss of almost $13 an ounce over the past two trading sessions. On Wednesday, gold prices fell as investors bought up equities amid another batch of better-than-expected economic numbers.

“The last couple of days saw the equity markets and the U.S. dollar bounce, which resulted in modest selling in the metals,” said Peter Hug, global trading director at Kitco Metals Inc.

On Thursday, however, the S&P 500 index SPX -0.13%  retreated from the record levels it saw a day earlier while the U.S. dollar DXY -0.18%   gave up gains against major rivals, marking its first loss against the Japanese yen USDJPY -0.24%  in three sessions.

The key for gold through the end of the weak are “signs of risk on or risk off via the equity markets and the inverse impact to gold,” said Jeffrey Wright, managing director at H.C. Wainwright.

Looking further ahead, one annual catalyst starting to approach is the Chinese New Year on January 31st, he said. “I am beginning to look for signs/indications of physical purchasing increasing as we get closer to the date. I haven’t seen or heard much yet.”

Elsewhere in metals trading Thursday, platinum for April delivery PLJ4 +0.11%  closed up $2.90, or 0.2%, at $1,431.50 an ounce, while March palladium PAH4 -0.18%  fell 10 cents to $743.90 an ounce.

High-grade copper for March delivery HGH4 -0.51%  dipped about 1.5 cents, or 0.5%, $3.34 a pound.

On Thursday afternoon, metals-mining shares traded mostly higher, with the Philadelphia Gold and Silver Index XAU +0.60%  up 0.3%. Citigroup moved its 12-month stance on mining firms to bullish from neutral.

The SPDR Gold Trust exchange-traded fund GLD +0.04%  edged up by 0.1%, but it’s down almost 0.5% week to date.

In U.S. economic news, a report on weekly jobless claims came in slightly better than anticipated, while inflation data roughly matched expectations. A reading of manufacturing sentiment in the Philadelphia area picked up in January.

Analysts at Heraeus Metals forecast some lingering weakness for gold as the global economy heals and as investor appetite shifts.

“The need for gold as a ‘safe haven’ is, for some time, now no longer prevailing: Besides the positive signs of improvement in the U.S. economy, the European Union-crisis nations are also putting their saving plans into action, and the acute crisis-fear has somewhat abated,” they wrote.

“The prevailing risk-aversion of the past years has recently been replaced by rekindled interest in risk-richer assets classes like equities,” Heraeus Metals said.

Meanwhile, departing Federal Reserve Chairman Ben Bernanke spoke at the Brookings Institution’s Hutchins Center Thursday in his final public appearance as head of the central bank. He defended the central bank’s response to the financial crisis. See the live blog recap of the event.

At a seminar on monetary policy, San Francisco Fed President John Williams said the central bank’s asset purchase programs have proven “a potent but blunt tool” that still unsettles policy makers. 

Courtesy: Market Watch