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.....👍✌

Sunday, March 16, 2014

Gold premiums erased by higher prices, seasonal factors
~ by Eddie van der Walt
Commerce and Industry Minister Anand Sharma 
March 15, 2014: Premiums paid for physical gold continued to fade after the metal rose to its highest price in nearly six months on Wednesday, leading some to question the sustainability of the rally. 

The metal reached it most expensive since September 20 at $1,368.85 per ounce on a combination of worries including geopolitical tensions in Ukraine, a perceived slowdown in the Chinese economy, dollar weakness and a sharp sell-off in the non-ferrous metals. 

And it was last still around this level at $1,365.75/1,366.55 per ounce, up $18.45 or nearly 1.4 percent from the previous close. 

As with most price rises, premiums paid for the metal have fallen, with price-sensitive physical buyers holding back to see how the various situations play out. 

"The physical market has quietened down a lot in recent days," one trader said. 

In India, premiums were reported as low as $60 for 1kg bars over London spot, although traders told FastMarkets that other factors are also playing a role in local market dynamics. 

First, with the wedding season now over, gold is entering a period of lower demand so jewellers would therefore be less pressured to build up depleted stocks. 

Second, there are growing expectations that the Indian government is on the verge of scaling back its tough import restrictions, with sources telling The Bullion Desk that they believe the controversial 80:20 rule may be repealed "within weeks". 

The rule, which is aimed at reducing imports of the metal and thus helping to curve the current account deficit (CAD), specifies that new gold imports are not allowed until 20 percent of previous shipments are exported as jewellery. 

But jewellers staged earlier this month a one-day strike against this measure as well as high taxes on imports, which have also been blamed for an increase in illegal gold imports. 

And with a general election fast approaching - it will be held during April and May - and the CAD improving, there is pressure on the government to repeal this rule. 

In China, premiums - recently as high as $15 over spot - have completely dissipated, with the metal now at a $3 discount. 

But with China the only actively buying market, the discount may not be a reflection of weak demand but rather of a flood of imports as sellers dump their gold there, traders said. 

In other locations, Hong Kong was quoted at $1, down from nearly $2 recently, while Singapore dropped to about 80 cents over spot. 

(Editing by Mark Shaw) 

Note: This is a delayed version of the report that appeared on FastMarkets' subscriber-only website on March 12 - all information is correct as of that date