SumanSpeaks: The Information Super Highway

Gold Rush From Dubai to Turkey Saps Supply as Premiums Jump ~~By Glenys Sim Photo, Courtesy : www.thedubaisafari.com Surging demand for gold from Dubai to Istanbul has pushed physical premiums in the region to levels not seen in years as the biggest price slump in three decades lures consumers, according to MKS (Switzerland) SA. Premiums paid by wholesalers and bulk buyers in Dubai to secure a 1 kilogram bar of bullion are being quoted between $6 an ounce and $9 an ounce over the London cash price, said Frederic Panizzutti, global head of marketing and sales at the Swiss-based bullion refiner. That compares with about 50 cents before the rout, Panizzutti, also chief executive officer of MKS Precious Metals DMCC, said in an interview from Dubai. Gold fell to the lowest in more than two years this month on speculation that the global economy is recovering, unleashing a purchasing frenzy among coin and jewelry buyers from China to the U.S. Consumer demand for jewelry...

P.M. Kitco Metals Roundup: Solid Gains for Gold on More Technical Buying, Bullish Outside Markets Comex gold futures ended the U.S. day session with good gains Monday. The bulls are continuing to repair recent chart damage and have gained upside near-term technical momentum to suggest a market bottom is now in place. The key “outside markets” were also in a bullish posture for the precious metals to start the new trading week, as the U.S. dollar index was lower and crude oil prices were higher. June Comex gold last traded up $1.47 at $1,468.30 an ounce. Spot gold was last quoted up $6.60 at $1,470.00.  July Comex silver last traded up $0.482 at $24.27 an ounce. The world economic data slate becomes heavier as the week progresses. The precious metals markets are keenly awaiting those new market inputs. The Federal Reserve on Wednesday will announce its latest monetary policy actions. While no interest rate changes are anticipated from the Fed, the FOMC statement Wednesday afte...

Gold seen extending gains from two-week high (Reuters) - Gold futures in India, which hit the highest level in two weeks on Friday, could extend gains on a weak dollar ahead of further monetary easing in the United States. Weak U.S. growth data has raised expectations the Federal Reserve will keep its bond buying at $85 billion a month, while the European Central Bank is widely expected to announce an interest rate cut when it meets on Thursday. Accommodative policy is supportive for gold as printing of money tends to be inflationary. "Overall gold will remain on the upside on loose monetary policy stance by the U.S.," said Sumit Mukherjee, an analyst at Karvy Comtrade. The actively traded gold for June delivery was 0.17 percent lower at 27,144 rupees per 10 gram on the Multi Commodity Exchange (MCX), after hitting a high of 27,447 rupees on Friday, a level seen on April 15. Gold may trade in a range of 26,300-27,800 rupees, said Mukherjee. However, lower physical deman...

Market Mantra Tulip Telecom Ltd hits another Buyer Freeze in the opening trade. The scrip was repeatedly recommended on this blog for good returns in the coming days.  Granules India Ltd recommended a couple of days back around Rs.111--112, today touched Rs.142. It gave around 35% plus return in the lest than 4-days.Visit this blog from time to time to get one of the best investment ideas.  Today, most of the ADA Group (Anil Ambani) Group stocks are moving up. Reliance Communication Ltd (Rs.101, up ~8.5%), Reliance Power (Rs.74 up ~4%), Reliance Mediaworks Ltd (Rs.54, up ~3%), Reliance Infrastructure Ltd (Rs.384, up ~4.8%). Many , I feel do not know what Reliance Mediaworks Ltd is the erstwhile, Ad lab Films L td, the giant in the media space. My recommended IRB Infrastructure Ltd which has a massive order book positions is also doing well today and it touched Rs.117 .65 intra-day. Future Retail Ltd ( erstwhile Pantalo on Retail) today touched Rs.153.2 5 and is n...

Drivers of the gold boom, crash and... ~~ Alok Sheel The steep rise and fall in gold prices in the recent past is quite dramatic, and reminiscent of the 1970s, which was also characterised by sustained economic uncertainty, a steep rise in the dollar price of oil and high inflation. The big difference between the seventies and the recent past is that while inflation is currently subdued, huge liquidity injections by central banks have fuelled speculative fears regarding inflation going forward. The gold bubble of the seventies was pricked by the return of macroeconomic stability and growth, and decline in the dollar price of oil. The question, therefore, is whether the sharp fall in gold and oil prices is the harbinger of good times ahead and a return to normalcy for the global economy. Seen thus, the sharp fall in gold prices is surprising because three fundamentals underlying aurum's recent bull run remain unchanged. First, sustained economic uncertainty had created gen...

More highway developers are looking to postpone their premium payments to the Government [ Editor : Ahmedabad-Vadodara highway development project in Gujarat is IRB Infrastructure Developers Ltd's largest road project and accounts for 38.65 % of its total road projects order book, being undertaken on a build-operate-transfer (BOT) basis] IRB Infrastructure, a Rs 3,131-crore listed firm, is the first to approach the National Highways Authority of India to reschedule its premium payments — the amount offered by a company to NHAI for developing/widening a stretch of road and collect toll from users over a set period — for two highway development projects, even as it collects toll from the projects. The developer wants to stagger payments to the NHAI so as to pay lower amounts in the initial years of the concession period and higher sums in later years. However, the net present value of premium accruing to the NHAI remains same. NHAI has already received such proposals...

Ethyrea Films Announces Multi-Million Dollar Deal with Reliance Mediaworks Please Click on the Chart to Expand Hollywood, CA, April 28, 2013 --(PR.com)-- Ethyrea Films has successfully concluded negotiations and is pleased to announce a nine million dollar visual effects co-production deal with Reliance MediaWorks (RMW). Reliance Group has been a contributor to blockbusters like Cowboys and Aliens, War Horse and the critically-acclaimed film, Lincoln, Ethyrea Films is excited to add RMW to its roster of talented VFX companies willing to contribute to the effects-driven independent franchise. “We have commitments from some of the most talented, Oscar-winning effects artists already in place," said Danica Fontaine, President of Ethyrea Films. "Reliance is a welcome addition to an amazing and versatile team, which is currently preparing the necessary breakdowns and bids for the design and pre-visual period scheduled to officially begin late next month....

Banks under RBI scanner for sale of gold investment products This will have some sentimental positive effect on the Gold Loan NBFCs The Reserve Bank is looking into sale of gold coins and gold-related investment products by about 30 banks to find out whether their employees are mis-selling such products to customers. The RBI move follows complaints of customers being induced by bank employees and non-staff members within bank premises for purchase of gold coins, gold-related investment products and other wealth management schemes. The central bank is studying the business practices of 30 banks to ascertain any mis-selling of these products and to find whether such products are being sold as a pre-condition for offering the regular banking services, sources said. RBI is also looking into complaints that bank staff are being pressurised by their senior officers to sell gold coins and other gold-related products in lieu of incentives. Earlier last month, RBI had ordered an...

Gold price fall not to impact financiers: AGLOC Manappuram Finance Ltd (Rs.17.65)  will not  have much impact on the bottomlines, though a lttle dent could come on the toplines, as the value of collateral decreases. Also, FIIs have increased their stake in the company, speaking sequentially. Read the full analysis on my Paid Blog , by becoming a member or joining my recommended brokerage house. Mumbai: AGLOC, an umbrella body of gold-loan companies, Monday said the current fall in price of yellow metal will not have any impact on the loan portfolios. "A 15-20 per cent price fluctuation in gold prices will not have any significant impact on the gold loan portfolios of member companies as they have already factored in such fluctuations in the business model," Association Of Gold Loan Companies (AGLOC) said. The association took a stock of the situation with members following the heavy fall in prices over the last fortnight. From a high in the Rs 33,000 region for 1...

Will Casino business in Goa dwindle, if the BJP retuns to power at the Center: A discussion   ~~~Suman Mukhopadhyay There are still lot of apprehensions floating around, regarding the gaming industry in Goa, after right-wing alliance led by Bharatiya Janata Party (BJP) returned to power by defeating Digambar Kamat led Indian National Congress (INC). The BJP has been always been very vocal on its ‘anti-casino’ sentiment with Manohar Parrikar (Goa CM and who is also the minister of finance ) declaring that casinos are a nuisance and promised that offshore casinos would be relocated in the Arabian Sea, five nautical miles away from the shore during his last election campaign, which led the officials of Casino Association of Goa (CAG), looking for cover. There were also media reports though the BJP in Goa, is not entirely keen to remove casinos largely due to the legal complications like violation of license agreements with previous governments and the revenue potential from ...

Analysis: FIIs stake in 18 Nifty companies at record high ~~Deepak Korgaonkar and Puneet Wadhwa FIIs, the main driver of Indian stocks, stake in 18 of the 50 Nifty companies have touched to historic highs, while in 7 other companies was nearing record highs in the March 2013 quarter, according to latest quarterly shareholding information filed by these companies. FIIs had a record stake in six Nifty companies during the year ago quarter. FIIs holdings in six companies – HDFC Bank, Lupin, Mahindra and Mahindra (M&M), NTPC, Axis Bank and DLF have touched a record high in January – March 2013 quarter. They have increased their stakes between one – six percentage points in these companies during the quarter. In the private sector bank - Axis Bank, state-owned power company – NTPC and real estate major – DLF, the overseas investors raised their holding by subscribing to shares via private placements route and used the open market purchase route to up their stake in ...