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Manappuram Finance Ltd :  Could be heading upwards Manappuram Finance Ltd (Rs.14.65) could be heading up basically due to four factors:  (i) Hedge funds’ combined holdings in gold futures rose the most this month as continued U.S. monetary stimulus spurred investors to sell short contracts and sent prices toward the first quarterly advance in a year. (ii) The festive demand for gold could keep the prices up in the domestic market. This might at least continue till "Deepawali".  (iii) The RBI governor, Raghuram Rajan had talked of maintaining a neutral rate policy on the interest rate trajectory. This means, he has come down from the earlier more hawkish stand. Now with the appreciation of INR, India be a little less worried about imported inflation.  (iv) Gold prices are forecast to rise next week, according to a survey. As many as 11 out of 19 analysts polled by the Kitco News Gold Survey expect prices to go up next week.  CLICK HERE .  ...

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Gold Bulls Raise Wagers Most in Month on Stimulus : Commodities Sep 30, 2013: Hedge funds’ combined holdings in gold futures rose the most this month as continued U.S. monetary stimulus spurred investors to sell short contracts and sent prices toward the first quarterly advance in a year. The net-long position in bullion jumped 12 percent to 78,654 futures and options in the week ended Sept. 24, the most since Aug. 27, U.S. Commodity Futures Trading Commission data show. Long wagers gained 1.8 percent and short bets fell 17 percent, the biggest drop in four weeks. Combined net-long holdings across 18 U.S.-traded commodities climbed 1.7 percent, the first gain in September. Gold rose 9.4 percent this quarter after a slump into a bear market in April spurred sales of coins, jewelry and bars. The Federal Reserve refrained from trimming bond buying this month, surprising investors. The pace of purchases could remain steady at $85 billion a month into January as policy makers ...

Cheer may be back for gold lovers as premium dips 82% KOLKATA: Ahead of the festive season, there is some good news for Indian consumers. Premium on gold has declined in India by almost 82% to $7 per ounce from as high as $40 per ounce as imports have kicked off after a gap of two months. The customs authority in Kolkata has just cleared consignments of gold, raising hopes for jewellers and bullion dealers in Mumbai's Zaveri Bazar and south India for smooth imports of yellow metal just before Navratri, which begins on October 5. Confirming the development, Pankaj Parekh, vice-chairman of Gem & Jewellery Export Promotion Council, said: "The customs authority has cleared gold consignments of banks last week. The Kolkata-based exporters have received gold from these consignments. In fact, I have personally got some 100 kg of jewellery exported after I got gold last week." The Reserve Bank of India (RBI) on July 22 introduced the 80:20 scheme, under which 20...

3iInfotech Ltd : Buy CMP: Rs.5.57 3i Infotech ( www.3i-infotech.com ) is a global Information Technology company committed to Empowering Business Transformation. A comprehensive set of IP based software solutions (20+), coupled with a wide range of IT services, uniquely positions the company to address the dynamic requirements of a variety of industry verticals, predominantly Banking, Insurance, Capital Markets, Asset & Wealth Management (BFSI). The company also provides solutions for other verticals such as Government, Manufacturing, Retail, Distribution, Telecom and Healthcare. 3i Infotech Ltd, has won the “Best Innovative IT Company Of The Year” award at “Time Research Business Leadership Awards 2013” event on Jul 26, 2013 in Delhi. 3i Infotech has over 1500 customers, including 62 in the Fortune 500 list, in more than 50 countries across 5 continents. It has offices across 12 counteries, apart from state of the art development centres in Mumbai, Chennai, Ben...

Gold Prices Head Upwards on Fresh Buying September 28, 2013: Gold prices have again risen on renewed buying interest, stirred up by US budget fears and the uncertainty surrounding the future pace of the Federal Reserve's monetary stimulus. Spot gold rose 1.2% to $1,339 (£829.92, €990.60) an ounce on the final day of trading. Prices dropped 2.8% a week ago on concerns that the Fed could start tapering its $85bn bond-buying stimulus programme from October. US gold futures for delivery in December hovered at $1,339 an ounce, Reuters data showed. Time is running out for US politicians to decide how to continue funding the government which would shut down on 1 October if the Republicans and the Democrats fail to reach an agreement. In September 2011, gold prices rocketed to an all-time high of $1,920 an ounce, partly because of the first US debt ceiling crisis, which was resolved at the very last minute. The Week Ahead Gold prices are forecast to rise next ...

Gold supply policy for jewellery exporters liberalised Now, jewellery exporters would have easy access to gold, and this would help increase exports With the relaxation in gold supply norms, jewellery exports from India are set to rebound in the coming months. On Friday, the Directorate General of Foreign Trade (DGFT) agreed to all the suggestions of the Gems & Jewellery Export Promotion Council (GJEPC) for smooth supply of gold to exporters. In the April-August 2013 period, gold jewellery exports from India fell 57.12 per cent to Rs.15,609.54 crore from Rs.36,404.17 crore in the corresponding period last year, primarily due to unavailability of gold for exporters. The unavailability had resulted from import restrictions by the government, aimed at containing the country's current account deficit. Now, jewellery exporters would have easy access to gold, and this would help increase exports. Since the supply restrictions were implemented on July 22, a huge qu...

Weekly report : Gold price surges Sep 28 2013: Gold price surges to three-week high at Rs 31,200 per ten grams was the most prominent feature of trading at the bullion market during the past week, mainly on fag-end brisk buying by stockists driven by strong global trend. Silver also ended higher on increased offtake by industrial units and coin makers. Traders said fag-end brisk buying by stockists to meet the upcoming festive season demand amid a strong global trend led to an upsurge in gold prices to reach a three-week high. Increased offtake by industrial units and coin makers helped silver prices to close higher, they said. Gold in global markets, which normally set price trend on the domestic front, rose to USD 1,345.20, the highest since September 20 in New York. At the domestic front, gold of 99.9 and 99.5 per cent purity commenced lower at Rs 30,250 and Rs 30,050 and slipped further to Rs 30,200 and Rs 30,000 per ten grams, respectively on sluggish de...

Gold prices climb by Rs.200 on rising demand Mumbai, 28 Sep, 2013 : Gold today extended rally at the domestic bullion market on the back of heavy buying from stockists and retail customers amid robust investment offtake.  Silver also surged owing to sustained speculative demand as well as industrial support.  Standard gold of 99.5 per cent purity climbed by Rs 200 to finish at Rs 30,465 per 10 gm from Friday's closing level of Rs 30,265.  Pure gold of 99.9 per cent purity rose by Rs 195 to close at Rs 30,610 per 10 gm from Rs 30,415.  Silver ready (.999 fineness) jumped Rs 430 to conclude at Rs 50,730 per kg as compared to Rs 50,300 previously.  Globally, the yellow metal rebounded sharply on safe haven demand as US budget concerns amid ongoing uncertainty over Fed tapering its stimulus measures weighed heavily on investor sentiment.  December gold shot up $15.10 to settle at $1,339.20 an ounce at the Comex division of t...

Gold Survey : Survey Participants See Higher Gold Prices Next Week [ Editor : Gold closed with a gain of 3.17% in the MCX Ltd, today!! Congratulations to all the Gold Bulls. Special thanks to John Browne (Euro Pacific Capital Economic Consultant, US), Jim Rickards (Tangent Capital Partners Senior MD, US) and Peter David Schiff (CEO and chief global strategist of Euro Pacific Capital Inc, US).....!!  I was very bullish on the GOLD, after reading lot of positive reports on the same and especially when it fell below Rs.30, 000 per 10 grams in Mumbai (Bombay). I had in this connection put a number of analysis on this blog, hope some of you have read the same]. Gold prices are forecast to rise next week, a majority of participants in the weekly Kitco News Gold Survey said. In the Kitco News Gold Survey, out of 36 participants, 19 responded this week. Of those 19 participants, 11 see prices up, while four see prices down and four are neutral or see prices trading in a...

After Market Opening Chart Check Yesterday, Nifty traded range bound between 5875 and 5905 for entire day and finally settled at 5882 with a gain of 8 points. This week's F&O expiry was however, higher by 473 points the previous expiry.   Nifty appreciated around 20% from the low of 5118 within 18 trading sessions. Bank Nifty also appreciated 2852 points from a low of 8366 with 34% gain. This clearly shows that the trend is up and Bulls are in control of the things in the market.  Nifty_Spot now is sitting above the crucial support area of 5800-5850 and is trading sideways. The Nifty_Spot is currently trading at 5868, which is expected to further move up during the day. The traders are suggested to hold or add on to their long positions, especially on the positive FIIs outlook on the market. The FIIs have been net buyers of Rs.172.15 Cr yesterday. Resistance : 5920 / 5950 Support : 5840 / 5810 US share indices yesterday snapped their five-day losing streak ...

Lower gold price spurs rush to buy bullion Falling gold prices in recent months have encouraged on bargain hunters across Asia to buy more of the precious metal. Gold has traditionally been bought in India and China as insurance against currency fluctuations and inflation. Perth Mint, which produces 10 per cent of the world's gold bullion, has been keeping a close watch on gold price movements. The miner's analysis and strategy manager Bron Suchecki told Radio Australia that it was overwhelmed with interest from Asian buyers when gold had a massive correction early this year. "Premiums for the bars went up by many multiples of the normal premium, so it was very dramatic," he said. Mr Suchecki says the Asian market is very price sensitive compared to the West. "They seem to buy on dips in price and during times of price weakness, they are very price savvy compared to Western buyers who want to buy when the price is going up and they f...

Demand from India can push gold prices higher :  Emkay 26 September, 2013: U.S. Comex gold futures for October delivery settled up at USD 1,335.9 an ounce. Gold prices rose as uncertainty over US budget talks boosted gold's safe haven appeal.  Fears of a government shutdown escalated as disagreement amongst lawmakers continued over funding Obama healthcare program as a condition to raise the debt ceiling. The IMF report showing 8 central banks added to their gold reserves also supported gold prices. The U.S. Treasury Secretary has warned theCongress of running out of funds and defaulting on its payments if no action is taken before October 17. Commenting on the gold outlook, Emkay Commodity Research said, ''Indian customs cleared imported gold lying at the airports which could restart imports soon from India. Gold prices are expected to move up as uncertainty regarding US fiscal issue and a pickup in demand from India can push prices higher.'' Cour...

Expect spot gold prices to trade positive : Sushil Finance   According to Sushil Finance spot gold prices are expected to trade on the positive note on the back of rise in worries over possible federal debt default. Further, US Federal reserve decision to continue with its bond buying programme may support prices to trade in green. Sushil Finance's report on bullion  Sep 26, 2013: A spot gold price increased by 1.32 percent in yesterday’s trading session on the back of weakness in dollar Index. Further, rise in worries over US debt ceiling crisis increased the demand for safe haven.  Additionally, US Federal reserve decision to continue with its bond buying programme supported prices to trade in green. However, mixed economic data from globe capped sharp upside in the prices.  In the Indian Markets, gold prices rose by 0.79 percent taking cues from Intl spot gold prices. However, appreciation in the Indian Rupee prevented sharp upside in the prices...

Realty bubble waiting to burst Vested interests have driven up housing prices to absurd levels. — P. V. Sivakumar Slowdown, higher interest rates and exit of black money from the sector before elections could bring down property prices. The real estate market is fast approaching the eye of a perfect storm. Demand has slowed down considerably and inventories have been building up. New regulation and market conditions, both global and domestic, will soon make access to land and capital more difficult. To weather this storm, builders need to let house prices fall. And the government needs to eliminate bureaucratic hurdles to make development a viable business at lower prices. Indian real estate saw a gold rush-like craze in recent times because its vested interests had carefully planted the idea that property prices “never go down”. To validate this notion, prices and price information were kept high and opaque high through implicit collusion. Media sound bytes were mo...

Gold price today : Latest updates Thursday, September 26, 2013: Gold prices failed to extend yesterday's gains and moved lower by Rs 110 to Rs 30,105 per ten grams in futures trade early Thursday as rupee strengthened against the dollar at the Interbank Foreign Exchange market. At the Multi Commodity Exchange (MCX), gold for delivery in October declined by Rs 110 to Rs 30,105 per ten grams as against its previous close of Rs 30,215 . Similarly, silver benchmark delivery dropped by Rs 251 to Rs 48,920 per Kg. Gold price in overseas markets, which normally set price trend on the domestic front, traded in a narrow range and largely held on to overnight gains of nearly 1 percent as an upcoming Chinese holiday kept investors on the sidelines and their focus turned towards the US debt ceiling talks.  Spot gold last quoted at USD 1,333.80 an ounce, down 0.02 percent, after gaining 0.8 percent in the previous session.  In New York, gold for December deliv...

Gold Loan Market in India 2012-2016 The analysts forecast the Gold Loan market in India to grow at a CAGR of 26.33 percent over the period 2012-2016. One of the key factors contributing to this market growth is gold loan business' high return on investment.  The Gold Loan Market in India has also been witnessing frequent gold price fluctuations. However, RBI's capping on loan-to-value ratio for non-banking financial companies could pose a challenge to the growth of this market.  The report, the Gold Loan Market in India 2012-2016, has been prepared based on an in-depth market analysis with inputs from industry experts.  The key vendors dominating this space include Manappuram Finance Ltd., Muthoot Finance Ltd., and Muthoot Fincorp Ltd.  The other vendors mentioned in this report are Indian Overseas Bank and Indian Bank. Courtesy : Research and Markets

Muthoot Finance NCDs oversubscribed; gets offers worth Rs.325 cr   India's leading gold finance company Muthoot Finance said its non-convertible debenture issue has been oversubscribed by 1.084 times. Sep 24, 2013:  India's leading gold finance company Muthoot Finance today said its non-convertible debenture (NCD) issue has been oversubscribed by 1.084 times. The issue has received total subscription of Rs.325.20 crore, Muthoot Finance said in a statement. The company came out with NCD issue earlier this month worth Rs.150 crore with an option to retain over-subscription up to Rs.150 crore, aggregating to Rs.300 crore. It said the funds raised through this issue will be utilised by for various financing activities including lending and investments, to repay existing loans and towards business operations. Mumbai, September 17, 2013: Muthoot Finance Limited, the largest gold financing company in India in terms of loan portfolio according to the IMaCS In...

US budget uncertainty boosts gold price A fresh bout of buying is expected in India after new rules on gold imports and exports are clarified. Photo : Reuters Thursday, 26 September, 2013: Gold rose almost 1 per cent on Wednesday, boosted by some safe-haven buying caused by uncertainty over US budget talks. The US Congress, struggling to avert a government shutdown next week, turned its attention to the other fiscal bullet coming at it: a federal debt default. Republican leaders in the House of Representatives notified members that a vote on raising the debt limit could come as early as Friday. The uncertain outcome of the budget talks sent US Treasury bond prices higher while US equities fell. Gold rose to a record US$1,920 an ounce in September 2011 partly on fears about the first US debt ceiling crisis, which confronted investors with the possibility that the world’s biggest economy would be unable to pay interest on its debt. “We do not envisage the gold mar...