Last Blast for Gold. The Rupee has a short term rally vs US Dollar.

Short term rally in the Indian Rupee vs the US Dollar, The Gold market had its largest gain in history. Gold looks to be making its final attempt to continue the bull run. It would appear that this will be the end of the gold bull. The Indian Rupee will continue to fall against the US Dollar in FOREX and futures trade.
India’s benchmark stock index fell for a seventh day, its longest losing run in almost eight months, as a US bailout of American International Group Inc failed to ease concerns that credit-related losses will cause more financial failures.
The Bombay Stock Exchange’s Sensitive Index, or Sensex, declined 255.90, or 1.9%, to 13,262.90. The index had its longest losing streak since January 22. The S&P CNX Nifty Index on the National Stock Exchange slid 66.65, or 1.6%, to 4,008.25.
ICICI Bank, the nation’s second-largest lender, extended declines to a two-month low after saying a unit holds 57mn euros ($81.3mn) in senior bonds sold by bankrupt Lehman Brothers Holdings.
“We are seeing foreign investors selling, that’s a drag on liquidity as they unwind positions,” said Mahesh Patil, who helps manage $9.6bn in assets at Birla Sunlife Asset Management in Mumbai. “Global concerns will continue to dominate as we could see more companies in trouble.”
ICICI fell 5.3% to Rs560.05, extending Tuesday’s 5.7% drop and dragging other lenders lower. ICICI declined after some analysts estimated the lender may record losses on bonds, including debt issued by Lehman Brothers.
ICICI’s aggregate losses at current spreads could range between $150mn and $250mn, implying a book value hit of as much as 1.7%, after tax, Kotak Securities analyst Tabassum Inamdar said in a note to clients on Tuesday. State Bank of India, the country’s largest lender, fell 3.2% to Rs1,530.80. HDFC Bank, the No 3, slid 3.5% to Rs1,187.35.
The rupee rebounded from a two-year low, gaining the most in almost two months, after the central bank announced measures to boost dollar supply and curb exchange-rate swings.
The rupee rose 1.2% to 46.37 per dollar at the 5pm close in Mumbai, according to data compiled by Bloomberg. It fell 1.9% on Tuesday, the most since May 1998. The Indian currency is Asia’s second-worst performer this year after South Korea’s won, with a 15.1% loss.
The currency snapped a six-day decline after the Reserve Bank of India said on Tuesday it will sell dollars and raise interest rates on locally-held foreign-currency deposits to attract money from abroad. The central bank said it plans to sell dollars through its agent banks or directly to meet demand- supply gaps after the rupee fell the most in a decade on Tuesday.
“The rupee is likely to recover part of its losses because it’s a certainty now that the central bank will supply dollars in the spot market,” said Krishnamurthy Harihar treasurer at Development Credit Bank Ltd in Mumbai.
Implied volatility on one-month dollar-rupee options rose yesterday to 16%, the most in at least nine years, Bloomberg data show
Indian Rupee / US Dollar / Forex Currency News, Gold prices India, and The Sensex index on the Bombay Stock Exchange (BSE). Euro / Rupee and Yen / Rupee. Silver Quotes

Indian Rupee @ Rupee.us new blog location.

The Indian Rupee updates for August 2008.

Dollar's rise vs sterling, other currencies weigh on rupee

* Stock market watched for direction (Updates to early trade)

MUMBAI, Aug 25 (Reuters) - The Indian rupee eased on Monday as the dollar climbed against some currencies overseas, triggering demand from banks from the U.S. unit.

At 9:57 a.m. (0427 GMT), the partially convertible rupee was at 43.58/59 per dollar, about 0.4 percent weaker than Friday's close of 43.425/435. It hit a 17-month low of 43.87 last week.

"The dollar's strength is pushing the dollar/rupee up but there is always fears of central bank intervention in the market," said a senior dealer at a foreign bank.

The U.S. dollar rose broadly on Monday, hitting a two-year high against sterling, as tumbling oil and gold prices left investors scurrying to buy back the currency and sparked a rebound in Asian stocks. See [ID:nSP76825].

One-month offshore non-deliverable forward contracts PYNDF were quoting at 43.63/73, weaker than the onshore rate.

Oil CLc1, India's biggest import, extended losses and was trading just above $114 a barrel after falling 5.4 percent on Friday.

Rupee / US Dollar / Forex Currency News, Gold prices India, and The Sensex index on the Bombay Stock Exchange (BSE). Euro / Rupee and Yen / Rupee. Silver Quotes

Technical Comments :

Euro: Euro was unable to sustain at 1.49 levels and was sent 145 pips lower in Friday’s session. Early this morning the currency marked a low of 1.4696. The daily chart is turning mid-way to indicate selling pressure while the hourly & 4-hourly shows slight upside. Immediate resistance comes in at 1.4857 (55 4-hourly EMA) where shorts could be considered. On the downside 1.45 constitutes an important support and going long there could be estimated. (Eur/Usd: 1.4724).

Pound: Cable’s short term rally ended on Friday as it sharply deteriorated to touch 1.8504 low against the greenback after disappointing GDP of the UK. Cable further fell to touch 1.8404 in the early morning session today. Further downside may be witnessed with daily charts showing selling pressure. Reversal pattern of bearish divergence is seen in the daily chart and if cable closes below 1.85 levels today, it can send Sterling to 1.8030 levels. UK Market is closed on account of Spring Bank Holiday. (Gbp/Usd: 1.8427).

Yen: The USD/JPY pair recouped all its losses as it surged to touch 110.13 levels on Friday. Although the daily stochastic shows slight buying pressure, the hourly and 4-hourly charts indicates selling pressure. Downside could be curbed around 109 levels (21 Daily EMA, 55 Weekly EMA) where intraday opportunities to enter long can be considered. (Usd/Jpy: 110.04).

Rupee: After hitting the 17-month low of 43.87 last week, Rupee marginally appreciated on account of dollar inflows through Foreign Investments. This relief could be temporary until and unless RBI intervenes to stall the sharp decline of rupee. In the forward premia market, the 6-month closed at 3.77 per cent (3.89 per cent) and the 12-month ended at 3.05 per cent (3.11 per cent).

(Usd/Inr: 43.52). Swiss Franc: Usd/Chf pair strengthened almost 145 pips from the day’s low of 1.0853 on Friday. The Daily chart is neutrally poised while the other stochastic is overbought and seeks correction. Currently the pair is taking resistance at 1.1045 levels (50% Retracement of the fall in weekly charts) and a pullback upto the support at 1.0890 (55 Weekly & 4-hourly EMA) can be seen. However, a decisive break of 1.1045 could take the pair to 1.13 levels (100 Weekly EMA). (Usd/Chf-1.1015).

Australian Dollar: Aussie remained weak and shed 167 pips to close at 0.8663 on Friday. The 4-Hourly & Weekly charts are oversold, however the daily continues to show a downside. If 0.86 (minor support) is held it can push Aud to the immediate resistance at 0.8684 and beyond to the cluster resistance of 0.8710 levels (50% retracement of recent fall & 21 4-Hourly EMA).(Aud/Usd-0.8636).

Gold: Gold touched a high of 837.60 before shedding almost $17 and closing at $822.70 in Friday’s session. Gold is facing strong resistance at $853 levels (38.2% Retracement & 21 Daily EMA) with daily stochastic correcting in the overbought region. Contrarily the 4-hourly chart is heading towards oversold region and $800 levels (minor support) could be maintained. (Gold: $821.10).

Dollar index: Dollar index showed a good come-back as it is currently trading 81 points higher than Friday at 77.15 supported by 80.74% stochastic clearly indicating an upside.

The late rebound in the US dollar and sharp pull back in volatile crude helped revive the ailing carry trade this past week. However, considering the deteriorating…
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Gold giving back as Dollar strength impacts Rupee

http://www.rushprnews.com/?p=2749

Indian Rupee / US Dollar Forex and Gold Market Updates

SPOT GOLD PRICES gave back all of a 1.5% rally late-morning in London on Wednesday, dropping below $815 per ounce in thin but frantic trade as the US Dollar continued to rally against pretty much everything.

Crude oil ticked back above $113 per barrel – down almost 25% from its top of early July ahead of today's much-anticipated US inventory stockpiles report – while base metals continued to slide.

Asian share prices sank to a one-month low, dropping more than 2% in Tokyo after official data said the Japanese economy shrank between April and June, squeezed by falling exports to the United States.

European stocks fell 0.7% on average, erasing this week's gains to date.

"We've been surprised by the strength of the US Dollar rally over the past month," wrote a Goldman Sachs analyst to clients on Tuesday.

"Nevertheless, we believe the threat of rising inflation and the climate of general economic uncertainty remains constructive for Gold in the medium term."

Already trading more than 5% lower against the greenback from Monday last week, the British Pound today sank 2.5¢ inside one hour – sinking to its lowest level since Nov. '07 – on news of rising UK unemployment and slowing pay growth.

Howard Stern and Oprah on SiriusXM

The Gold Price in Sterling bounced 3.5% from Tuesday's seven-month low to touch £437 per ounce.
Sensex Markets
The Euro also sank vs. the Dollar, falling back towards Tuesday's fresh six-month lows beneath $1.4860 after new data showed industrial production in the 15-nation currency zone contracted by 0.5% in the year-to-June.

For French, German and Italian gold buyers using the live online market at BullionVault, the Gold Price in Euros reached €547-bid in the Zurich vault, up some 1.3% from yesterday's eight-month low.

"When the Dollar quits going up, Gold quits going down," said Frank Lesh, a trader at FuturePath Trading in Chicago to Bloomberg overnight.

"[But] it's going to take time to repair this. Don't look for a quick turnaround."

After recording the lowest London Fix since Dec. 21st at $808.75 on Tuesday morning, the Gold Price in Dollars stood at $824 per ounce at 10:30am today in London.

In the bond market, 10-year US Treasury yields pushed higher to 3.90%. UK gilt yields, in contrast, fell hard to give back all of Tuesday's sharp rally – sparked by news of a 17-year high in retail price inflation.

That took two-year UK bond yields back to 4.54%, barely above the official rate of consumer price inflation at 4.4% per year.

Tomorrow brings the latest US consumer-price figures, expected to show inflation of 5.2% from July last year.

Current US interest rates now leave cash savers losing more than 3% of their wealth year-on-year.

Even so, "we've seen heavy liquidation in gold driven by a combination of the Dollar strength and oil prices," believes Suki Cooper at Barclays Capital in London

"We're reaching a turning point in prices.

"There have been concerns about the wider economy, circumstances in which you'd expect the Gold Price to thrive in," Cooper told CNBC today. "But we're seeing the opposite...a turn in sentiment, and a rally in the Dollar, the weakness in oil prices, as well as the balance in the equity market."

Outside the holiday-thinned markets of Europe and the US, however, "demand has been so much in the last couple of days" as Suresh Hundia, president of the Bombay Bullion Association in India, told Bloomberg yesterday, "that banks and other importers have run out of supplies.

"If the price keeps falling, there's no reason why people won't continue to buy."

Dealers across the sub-continent report supply problems after the wave of physical buying that started last week.

"The delivery time is four to five days," says one Bangalore trader.

Indian gold buyers accounted for one ounce in every five sold worldwide last year, but this spring's record high prices saw demand collapse by up to 95%.

"Today demand has halted," said one large gold wholesaler to the newswire overnight, "but there are plenty of orders placed in advance for $805-$810 an ounce levels."

On the economic front, India's annual inflation rate is forecast to have reached a 13-year high above 12% according to a Reuters poll.

GDP growth is cooling, meanwhile, and the value of the Indian Rupee falling fast on the world's currency markets.

Regardless of domestic inflation and imported price hikes, however, O.P.Bhatt – head of India's largest lender, the State Bank of India – believes interest rates have "almost peaked".

India's key interest rate remains 3% below the rate of consumer-price inflation, very nearly matching the negative real interest rates now suffered by US cash savers.

Adrian Ash

Formerly City correspondent for The Daily Reckoning in London and head of editorial at the UK's leading financial advisory for private investors, Adrian Ash is the editor of Gold News and head of research at BullionVault – where you can Buy Gold Today vaulted in Zurich on $3 spreads and 0.8% dealing fees.

Rupee / US Dollar / Forex Currency News, Gold prices India, and The Sensex index on the Bombay Stock Exchange (BSE). Euro / Rupee and Yen / Rupee. Silver Quotes

Indias Titan Index, competition for the Sensex

The Dow Jones company has launched the Titan 30 Index to compete with Indias famed sensex index. Modeled after the US Dow Jones average, the Titan Index will track 30 of Indias largest publicly traded companies. Indian Rupee. Rupee vs dollar

gold

An index of 30 leading Indian company stocks, Dow Jones India Titans 30 Index, was launched today by Mr Rupert Murdoch, the Chairman of media conglomerate News Corporation.

“The Dow Jones India Titans 30 Index includes 30 largest and most liquid stocks traded in India. The selection to the index will be based on rankings by float-adjusted market capitalization and 12 month average daily trading volume,” the media company said.

The index will track share prices of leading players across various business segments incorporated on the index and will be a basis for investment. Calculated in US dollar and Indian rupee, it will be reviewed every March.

The index has been created by financial information company Dow Jones Indexes, a business unit of Dow Jones & Company, a News Corporation company.

Launching the index, Mr Murdoch said the blue-chip index for India will be licensed to financial institutions as the basis of investment products, such as exchange-traded funds.

“The growing importance of India to the world and to Dow Jones and News Corporation is obvious to all. What the world needs is a trusted means of measuring this country’s development and an index that can be used by investors around the world to track the progress of Indian companies and the Indian economy,” said Mr Murdoch.

“We will see huge capital flows both from and to India in coming years and that is an opportunity for us as a financial information company and for international investors who want to take advantage of this profound trend.”

Cap on weightage

Unlike other benchmark indices such as the Sensex, Nifty, Morgan Stanley India Index, the new index has 10 per cent weightage cap for individual securities.

This is illustrated by Reliance Industries that figures on the Dow Jones India Titans 30 with highest weightage of 10.80 per cent, as compared to Reliance’s weightage on Sensex of 15.96 per cent, on Monday. On NSE’s S&P CNX Nifty, Reliance enjoyed weightage of 12.51 per cent.

In the Dow Jones India Titans 30 Index, the financial sector has the highest weightage of 23.16 per cent, followed by basic materials 19.81 per cent, oil and gas 13.99 per cent — as on July 31, when it was made public for the first time.

Top 10 companies represented on this index are Reliance Industries, Infosys Technologies, HDFC, Bharti Airtel, Larsen & Toubro, ICICI Bank, ITC, Oil & Natural Gas Corporation Ltd, DLF and Reliance Communication.

Morgan Stanley Capital International India index is another widely referred index of top Indian companies from the leading US based financial firm Morgan Stanley.

Rupee / US Dollar / Forex Currency News, Gold prices India, and The Sensex index on the Bombay Stock Exchange (BSE). Euro / Rupee and Yen / Rupee. Silver Quotes
rupee vs dollar

Two of the world's most powerful state-run oil titans are locked in a tug of war for control of a UK exploration group based in Leeds and operating in Russia.

Shares in Imperial Energy rose steeply, valuing it at over £1.1bn, after it announced a bid approach which could lead to a cash offer. Experts say the mystery bidder is almost certainly the state controlled China Petroleum & Chemical Corporation (Sinopec).

Discussions are already underway with the Oil and National Gas Corporation of India (ONGC) which, like Sinopec, is desperate to acquire energy assets around the world to meet growing demand at home caused by the rapid pace of industrialisation.

The International Energy Agency estimates that Chinese demand will grow by 6 per cent this year and Indian demand by 5 per cent.

More players could still enter the battle. There were reports that the Korea National Oil Corporation is weighing up the prospects of a bid. The firm tried to buy Burren Energy last year but was outbid by Italy's Eni.

Imperial, formed in 2004 by executive chairman Pete Levine, 52, remains a tiddler in the global energy stakes. The group has a portfolio of oil and gas assets in western Siberia and Kazakhstan, but is currently producing only 10,000 barrels a day, although it plans to accelerate output to 80,000 by the end of 2011. However, recoverable reserves are estimated at 900 millionbarrels.

Imperial, a constituent company of the FTSE 250, has been watched closely by the major players. Last November Gazprom, the Russian gas export giant, made an approach to buy a quarter of the company, but talks floundered.

Imperial shares rose 86p to 1,160p yesterday, having been considerably higher earlier this year before rumours of Russian state intervention on the grounds of potential environmental damage unnerved investors.

In January, when the price peaked at 1,675p, Mr Levine raised £26m from the sale of 1.5 million shares, cutting his stake to 3.1 million or 6.1 per cent. Other key holders include Schroders with 10 per cent and Fidelity with 4.8 per cent.

Tim Heeley at the broker Daniel Stewart said any successful offer for Imperial would have to be pitched around the £15 mark while Cazenove considered it would need to be between £13 and £14.

However, the broker raised the intriguing possibility of Sinopec and ONGC getting together to launch a consortium bid "to avoid competing against each other".

Neither is it likely that the Russian government will stand in the way of intervention by either the Chinese or Indian groups taking over valuedassets within the country. The Russians have so far raised no objection to Indian investment in upstream assets, while Sinopec has already take two significant stakes in ventures within the country.

Rupee, Sensex weekly wrap-up and next week in Gold

Rupee / Gold / US Dollar weekly Forex update and The week to come. Futures look for strong rebound in the gold and other commodity markets. Sensex looks to rebound higher.
The rupee rose on Friday as a strong stock market raised expectations of renewed capital inflows and data showed the trade deficit narrowing in June from the month before.

The partially convertible rupee ended at 42.35/36 per dollar, half a percent above Thursday's close of 42.57/58. For the week it ended 0.21 percent down, but closed more than one percent up from an intra-week low of 42.81 per dollar.

"The trade deficit numbers were definitely a comfort after last month's shocker, but it still looks like a rangy play for now," said a senior dealer at a foreign bank. Data on Friday showed the monthly trade deficit for June was at $9.79 billion, lower than a record $10.77 billion in May as the pace of export growth rose.

Stock markets closed 2.1 percent up posting a fourth straight weekly gain to match their best run this year. [.BO]. Foreign funds bought $148 million worth of stocks on Thursday, provisional data showed after selling $645 million over the last four sessions.

Capital outflows have pushed the rupee down 7 percent so far this year. It rose more than 12 percent last year. Sentiment was also boosted after a senior oil ministry official said it had requested the finance ministry to ask the central bank to restart its foreign exchange operations with oil refiners.

"That definitely has boosted sentiment but volumes are also picking up as exporters are coming in to sell dollars at every uptick in the dollar/rupee," the trader said.

The central bank said earlier this week it would stop a two-month old scheme which provided foreign exchange directly to oil refiners in exchange for their oil bonds. Refiners are the biggest buyers of dollars in the currency markets. Traders said the rupee's near-term prospects would be dictated by moves in global oil prices. Oil was trading near $123 a barrel on Friday. One-month offshore non-deliverable forward contracts were quoting at 42.45/50 against the dollar, weaker than the onshore rate.

Gold falls on strong capital markets

NEW DELHI: Gold fell for the third straight day losing Rs 55 to trade at Rs 12,695 per 10 gram on the bullion market here on Friday on selling by stockists in line with strong domestic bourses and weak trend in global markets.

The precious metal as its demand declined in the domestic market as the capital market remained firm closing 300.94 points higher at 14,656.69, traders said.

Also, in the overseas markets demand for gold fell as crude prices declined and dollar strengthened against the euro, reducing the appeal of the gold as a hedge against inflation and as an alternative investment, traders said.

Standard gold and ornaments, which lost Rs 250 in last two trading session, fell by Rs 55 to Rs 12,695 and Rs 12,545 per 10 grams respectively. Sovereign, however, remained flat at Rs 10,600 per piece of eight gram.

Silver ready also fell by Rs 75 to Rs 24,725 per kilo but weekly-based delivery held steady at Rs 24,570 per kilo in limited deals. Silver coins remained unchanged at RS 28,000 for buying and Rs 28,100 for selling of 100 pieces.
Rupee / US Dollar / Forex Currency News, Gold prices India, and The Sensex index on the Bombay Stock Exchange (BSE). Euro / Rupee and Yen / Rupee. Silver Quotes

Indian Rupee, Oil, Gold and other currencies with real value

Rupee / US Dollar Forex Currency News, Gold in India, and The Sensex index on the Bombay Stock Exchange (BSE). Euro / Rupee and Yen / Rupee.

The Indian rupee advanced to a 10-day high against the US dollar during early Asian deals on Friday. By about 9:10 pm ET, the rupee fetched 42.77 against the buck, compared to Thursday's New York session close of 42.86. In economic news, India will announce inflation report for the week ended June 28. For the week ended June 21, the inflation rate was 11.63 %
Shares on Karachi Stock Exchange ran into deeper recession last week as both leading investors and institutional traders remained on the sidelines and did not cover positions even at the attractively lower levels.

The KSE 100-share index maintained its creeping decline and fell by another 265.84 points at 11,695.82 as compared to 11,961 points a week earlier. All leading share, notably MCB, OGDCL, National Bank, PSO, Pakistan Oilfields and Pakistan Petroleum again ended in the minus column amid persistent price erosions.

It was not a single factor but a combination of them, which the market hostage, notable among them was weakness of the rupee, which fell to an all-time low of Rs73 to a US dollar and massive outflow of the capital from the share market to other outlets including gold, which also hit a new high at Rs21,300 per 10 gramme.

Political uncertainty, bad news from FATA and concerns about the economy followed by lack of investor interest in the share business also kept the market under pressure throughout the week.

"The failure of the market stabilisation corrective steps taken last month to put the market back on the rails or to revive investor interest in the share business seems to have further accentuated the situation," analysts said.

It was in this background that a concept of Equity Market Opportunity Fund worth Rs50 billion floated by the Security & Exchange Commission of Pakistan (SECP) to arrest the persistent downward drift on the market and protect the investor interest in case market is manipulated by some speculative traders.

A high-power meeting of all those associated with the share business was held during the last week and financial institutions have sought time to participate in the proposed fund and a final meeting is due to be held on July 16 to finalise the details and the amount to be offered by the participants, market sources said.

The next week, there could be very crucial for the market trend as all steps taken so far including lower and upper circuit breakers failed to produce the desired impact on the market, they added.

Some analysts said what ails the market is the prevailing uncertainty on the political front and until normalcy returns to it not many, not to speak of the foreign investors who are already out, would like to put money in the share business as low daily volume indicates.

Trading, therefore, resumed on an easy note as investors were in no mood to cover positions even at the current attractively lower levels owing partly to the continued weakness of the rupee and an uncertain political outlook.

However, mid-week corrective steps taken by the State Bank of Pakistan to arrest fresh fall in the value of the rupee against the US dollar were welcomed by the stakeholders in the share market as was reflected by revival of selective support at the lower levels on some of the counters.

The improvement both in values and the turnover was attributed the SECP-KSE meeting to review the last months measures and their impact on stock trading and if possible to revise some of them, market sources said.

On the open market, the rupee at one stage hit a new low at 73 and 73.50 for buying and selling respectively as investors seeking safe havens continued to build-up long positions in the dollar, analyst Hasnain Asghar Ali said.

Investors are awaiting the proposed meeting of the KSE on July 16 to review the current changes in upper and lower circuit breakers amid hopes that the previous lower lock of five per cent may be restored to push the turnover figure from the current lows, he added. "Why should investors put money in stocks amid a phenomenon of depreciating value of the rupee, they have other safe havens where their investment is safe and could appreciate," he added.

But analyst Ahsan Mehanti said the increase in the turnover figure at 52 million shares after several lean sessions and an all-time fall in volume figure to 5.348 million shares reflects that a section of investors has already resumed covering purchases on selected counters.

Indications are that the current short-covering at lows could develop into a strong rally any day as the sell-off seems to have overdone its intensity on technical grounds, he said.

Everyone is talking about petrol and the rising crude prices and how difficult it is for the Indian government to do anything. Across the world, it is said that the oil producing nations are unfair by manipulating the supply and demand situation leading to unfair prices.

The fact is all trends related to oil prices have been on the rise. The consumption has been on the rise and the dollar, in which is the oil is priced has been weak for long. With rising consumption and a weak dollar, the price trends were clear. IMF predicts that oil prices are set to remain high and will be a drag on the global economy. The head of a fund management company in the US has gone to the extent of saying that this is the worst financial crisis since the Great Depression. The Goldman Sachs predicts the crude prices to touch $200 a barrel in the next six to 24 months. We are already close to $150. It's no use getting into the blame game and accuse OPEC for not doing enough to keep the prices at a reasonable level. With failure to control consumption as well as not adequately tapping alternate sources of energy, we are caught napping. Indians are now going to pay dearly for successive governments not having a clear long term strategy on oil.

Our nation is one of the worst examples for extremely poor infrastructure related to urban mass transport. The fact is in every city, citizens have to have own private transport, if they have to work or even go to school. This is one of the main reasons for consumption rising steadily, which jumped up 11 per cent last year.
Shortage of power also contributes to consumption of diesel for power generation. In other words, failure of our government to provide adequate mass urban transport and power, has led to increases in consumption of petrol and diesel. Apart from this, we also haven't done enough to tap alternate sources of energy. There are other problems plagued with Indian governance.

Too expensive

Look at the petrol prices across the world, for instance ,to see how our pricing is right at the top. Petrol in India is at $1.32 or Rs 57 per litre which is one of the highest in the world. In China, the price is about $1.01 or Rs 42.7 per litre, after last weeks increase in prices. In Pakistan, petrol is considerably cheaper at $1.06 or Rs 44 per litre. In Dubai, where I live, petrol is $0.37 or Rs 15.50, same as bottled mineral water and Pepsi! However, the cheapest petrol is in Venezuela at $0.05 per litre or Rs 2.10 per litre. One of the major reasons for higher prices in India is tax: customs & excise duties, and other taxes, including state taxes, accounting for half of the selling price. In other words, the ex-refinery price of petrol is actually about Rs 25 per litre and the rest is swallowed by our Government. Depreciation in the value of Rupee against Dollar is also pushing up our oil prices.
Clearly, we need to correct past blunders by taking urgent short term as well as long term measures. We need to control consumption by providing citizens with reliable and comfortable modes of public transport. Private sector should be encouraged to provide transport to employees.

Our congested roads also lead to low fuel efficiencies of automobiles. The long pending Iran-Pakistan-India natural gas project has to be implemented soon as also seriously exploring alternate sources of energy. Lastly, there is no justification for such high dosage of duties and levies on petrol, diesel and LPG. In other words, it's predominantly our government which is at fault for not being proactive about such a serious issue. Hence, it would be wrong to blame the oil producing economies, or the Indian consumers for the present crisis. We can still tide over the crisis, if the government acts by taking the necessary short term as well as long term measures. The oil bomb is ticking and threatens to crash the Indian economy.
Rupee / US Dollar Forex Currency News, Gold in India, and The Sensex index on the Bombay Stock Exchange (BSE). Euro / Rupee and Yen / Rupee.

Indian Rupee vs. US Dollar exchange rates and Gold

Rupee / US Dollar Forex Currency News, Gold in India
The following events and economic reports may influence trading in Asian currencies and gold today.

Exchange rates are from the previous session.

Japanese yen: Bank of Japan Governor Masaaki Shirakawa will speak at an annual meeting of Japan's credit cooperatives in Tokyo around 3:40 p.m.

The Ministry of Finance will release weekly portfolio flows data at 8:50 a.m.

Chief Cabinet Secretary Nobutaka Machimura will hold briefings at 11 a.m. and 4 p.m. Vice Finance Minister Hiroki Tsuda is scheduled to give a press conference at 5 p.m.

The yen was at 108.18 a dollar at 4 p.m. in Singapore yesterday.

Hong Kong dollar: Consumer prices climbed 5.7 percent in May from a year earlier, following an increase of 5.4 percent the previous month, economists said in a Bloomberg News survey before a report tomorrow.

The Hong Kong dollar was at 7.8074.

Indian rupee: Wholesale prices advanced 9.79 percent in the week ended June 7 after a gain of 8.75 percent the previous week, economists said before a report tomorrow.

The rupee was at 42.8925.

China's yuan: The Chinese delegation, including People's Bank of China Governor Zhou Xiaochuan, is scheduled to leave the U.S. by tomorrow. Chinese officials were in the U.S. for a semiannual China-U.S. Strategic Economic Dialogue in Annapolis, Maryland.

The yuan was at 6.8820. Indian Rupee vs. US Dollar - Gold Prices exchange rates

The Sensex index on the Bombay Stock Exchange (BSE). Euro / Rupee and Yen / Rupee.

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Rupee / US Dollar Forex Currency News, Gold in India, and The Sensex index on the Bombay Stock Exchange (BSE). Euro / Rupee and Yen / Rupee. Indian Rupee Inflation
India Inflation concerns - Gold Higher

Indian shares are expected to
fall on Thursday after the central bank raised its key lending
rate to curb inflation, and weighed down by lower Asian
markets.

 The Reserve Bank of India raised its repo rate by 25 basis
points to 8.0 percent, with annual inflation already at 3-½
year highs above 8 percent. For story, please double-click on
[ID:nBM260784].

 "The market could drop more than 300 points at open," said
V.K. Sharma, head of research at Anagram Stock Broking Ltd.

 "There will be a huge impact on auto, realty and banking
sectors," he said.

 The 30-share BSE index .BSESN closed 1.99 percent higher
on Wednesday at 15,185.32 points. The index, which fell to
14,645.31 during trade on Tuesday, its lowest since Aug. 29,
2007, is 22.3 percent down in 2008.

 Shares in India's biggest listed firm, Reliance Industries
(RELI.BO: Quote, Profile, Research), will be in focus as the company is expected to
announced a slew of business initiatives at its annual
shareholders meet later in the day.

 Traders will also be watching data on industrial output in
April, expected by noon (0630 GMT). A Reuters poll had forecast
the output to have grown an annual 5.7 percent. [ID:nDL7897].

 By 0308 GMT, Asian markets were trading lower with Tokyo
.N225 and Sydney  down 2.3 percent each while Seoul
fell 1.8 percent. The Nifty futures SINc1 traded in
Singapore was down 2.8 percent at 4,389.5.
------------------MARKET SNAPSHOT@0310
GMT---------------------

                 INSTRUMENT   LAST       PCT CHG   NET CHG
S&P 500             .SPX      1335.49       -1.69    22.950
USD/JPY                    107.24        0.4%     0.430
10-YR US TSY YLD      4.0871          --     0.012
SPOT GOLD                 $875.4       -0.47%    -4.150
US CRUDE            CLc1      $135.31      -0.78%    -1.080
DOW JONES           .DJI       12083.77    -1.68%   -205.99
ASIA ADRS           .BKAS      154.33      -1.58%     -2.48
--------------------------------------------------------------

 FACTORS TO WATCH
* Indian rupee gains after cbank raises interest rate
[INR/]
* Indian bond yields jump to 1-yr high on rate hike  
[IN/]
* FOREX-Dollar edges up on Fed's tough talk, Aussie
slides[FRX/]
* Oil falls, but supply fears give support           
[O/R]
* GLOBAL MARKETS-Asian stocks sink on inflation, credit fears
[MARKETS/AS]
* US STOCKS-Wall St sinks as oil reapproaches high, BUD up
late [.N]
* For closing rates of Indian ADRs                 
INADR

 STOCKS TO WATCH

 * Fertiliser stocks such as Tata Chemicals (TTCH.BO: Quote, Profile, Research),
Rashtriya Chemicals (RSTC.BO: Quote, Profile, Research), Nagarjuna Fertilizers (NGFR.BO: Quote, Profile, Research)
and Chambal Fertilisers (CHMB.BO: Quote, Profile, Research), ahead of a cabinet secretary
meeting on Thursday to decide on a new fertiliser policy.

 * Arvind Mills Ltd (ARMI.BO: Quote, Profile, Research) after the denim and apparel
maker called off a branding and distribution deal with Diesel
BV, saying it restricted expansion plans of the firms.

 * Gujarat Mineral Development Corp Ltd (GMDC.BO: Quote, Profile, Research), after the
state-run lignite maker's net profit for the March quarter
soared to 636.9 million rupees from 128.3 million last year.

 * Siemens Ltd (SIEM.BO: Quote, Profile, Research), after it said it received two
orders worth 1.6 billion rupees from state-owned Rashtriya
Ispat Nigam Ltd for power supply and augmentation package and
plant material handling systems.

 * State-run Shipping Corp of India (SCI.BO: Quote, Profile, Research), after it
posted an 11 percent dip in quarterly net profit to 2.5 billion
rupees on record crude oil prices and higher personnel costs.

Indian Rupee continued weakness vs. US Dollar

The Rupee today extended losses to close at 42.96/97 against the US Dollar, weakening by about ten paise from its previous close of 42.86/87 on negative cues in local equity market and high global crude oil prices.

The Indian currency fell to an intraday of 42.99 per dollar in the mid-morning trading session, tracking a sharp fall in the stock market. Later, it recovered slightly before closing on suspected intervention by the Reserve Bank of India, dealers said.

The Indian unit recovered from its early lows after the central bank was seen selling dollars and as the stock market bounced off early lows, dealers added.

Reportedly, RBI was seen selling dollars at the level of 42.92 per dollar after the currency weakened in early deals on weak global cues, a senior dealer with a leading private sector said.

Reserve Bank of India (RBI) today fixed the reference rate for US Dollar flat at Rs 42.89 per unit as compared to previous rate.

The six-month premium was quoted higher at 2.63 (2.55) per cent and annualised premium closed at 2.17 (2.15) per cent.

Meanwhile, Rupee ended the day firm at 66.71/72 (67.42/43) per unit against Euro. It closed at 84.07/08 (84.64/65) per unit against the Pound Sterling and ended firm at 40.23/24 (40.45/46) per hundred units against the Japanese Yen. Rupee / US Dollar Forex Currency News, Gold in India, and The Sensex index on the Bombay Stock Exchange (BSE). Euro / Rupee and Yen / Rupee.

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Rupee - US DOLLAR Exchange update / Gold / Sensex

The Indian rupee on Friday recovered by 32 paise to close at near two-week high of 42.46/47 against the greenback on lack of dollar demand and liberalisation of overseas borrowing norms.

Relaxation of overseas borrowing norms by the government which made it easier for local companies to raise external commercial borrowings (ECBs) mainly pushed the rupee upwards, dealers said.

It also increased the limits to 70 per cent on foreign investment in government and corporate bonds.

Dollar selling by exporters at higher levels and rise in equity markets also helped the rupee recovery.

In active trade at the Interbank Foreign Exchange (Forex) market, the domestic unit opened sharply higher at 42.49/53 a dollar from yesterday's close of 42.78/79.

It later moved in a range of 42.44 and 42.6150 before concluding the day at 42.46/47.

Global crude oil prices fell near USD 126 a barrel from record peak of above USD 135 a barrel last week and this led to a mild demand for dollar from oil refiners.

Strong GDP growth rate of 9 per cent for 2007-08 also boosted the rupee sentiment, expecting more capital inflows in near future.

According to Finance Minister, the growth was quite satisfactory in a year that saw turbulence in money market and corrective steps would be taken to address the slowdown in manufacturing sector.

Firm Asian equity markets also pushed the rupee upwards. The benchmark Sensex rose by over 99 points on Friday.

Rupee / US Dollar Forex Currency News, Gold in India, and The Sensex index on the Bombay Stock Exchange (BSE). Euro / Rupee and Yen / Rupee.

(Updates to trends in the physical market)

* Spot gold little changed at $876.70 an ounce

* London Brent crude down at $125.90 a barrel LCOc1

* Rupee stronger at 42.525 per dollar

* U.S. indicators - personal income and spending data at 6 p.m., consumer sentiment at 7:25 p.m.

MUMBAI, May 30 (Reuters) - India's gold prices were down on Friday tracking a fall overseas and on a stronger rupee, triggering sporadic buying from investors and wholesalers at end of the season, dealers said.

"Demand is okay, but not much," said a dealer in a large private bank.

Foreign gold slipped further, adding to the losses of the previous session, when it fell my over two percent on a declining crude oil and firm dollar.

In the local market a stronger rupee against the dollar, after the government eased overseas borrowing rules, eased gold more as most of India's gold is imported and paid for in the U.S. currency.

"Of course it is not booming, but it is okay," said Rajesh Mehta, chairman of Rajesh Exports Ltd referring to retail sales across his 35 outlets.

India's busy season has now ended and as the monsoon sets in next month, there would be few weddings, keeping demand for gold down.

Yet, investors, wholesalers and jewellers are in the market eyeing good bargains so they can start the next busy season in September with good stocks, dealers said. "Investors would like to buy at around 11,800 rupees per 10 grams," Sanjiv Solanki, a senior trader at M.D. Overseas Ltd, said. US DOLLAR / RUPEE EXCHANGE - GOLD

Stagflation?

Is the US Economy headed for Stagflation?

What impact will that have on Gold and The Rupee?

This page on Stagflation may help you with that question.
What is Stagflation?

Rupee / US Dollar Forex Currency News, stagflation economy, Gold in India, and The Sensex index on the Bombay Stock Exchange (BSE). Euro / Rupee and Yen / Rupee.

Rupee.US ping my rupee, us dollar and gold opinions

(Chart courtesy of FX Solutions' FX AccuCharts. Price on 1st pane, Slow Stochastics on 2nd pane; uptrend lines in green; downtrend lines in red; horizontal support/resistance lines in yellow; 200-period simple moving average in light blue.) 2/14/2008 – AUD/JPY – After a significant run-up in the last 3 to 4 weeks resulting from a bounce off the long-term uptrend line, price on the AUD/JPY daily chart, as shown, is approaching a confluence of several different resistance factors. This strong

Technical Summary for Majors Posted: 14 Feb 2008 10:11 AM CST EURUSD Remains in a steady recovery following decline from 1.4953 that bottomed at 1.4441. Bulls reached 1.4615 high on 12 Feb, ahead of pullback to 1.4532, where a higher low was left ahead of fresh thrust. Market cleared 1.4615 today, extending to 1.4633, 38.2% of 1.4953/1.4441 decline, before the latest dip occurred. Scope is seen of leaving a higher low above 1.4560, for fresh attempt at 1.4635, with clearance there to expose 1.4651/70 next. Res: 1.4615, 1.4635, 1.4651, 1.4670 Sup: 1.4576,

Europe Session Performance Posted: 14 Feb 2008 09:52 AM CST

Have a heart! Posted: 14 Feb 2008 09:18 AM CST The bulls have heart. Oil prices drove higher as a bearish EIA report failed to live up to the whisper number expectation. Yes it was about the EIA numbers but it was also about the better than expected Retail Sales numbers sent the bulls a soaring. Love was in the air and the bulls were feeling it and Cupid shot an arrow right through the bull's hearts. Gasoline supplies hit the highest level since 1999 which was the year that oil prices were near $10 a barrel. That's a lot of gas. The Bulls

The Rupee strengthened against the dollar Posted: 14 Feb 2008 09:12 AM CST • The Rupee strengthened against the dollar as the sharp recovery in the domestic stock market helped to improve investor sentiment and encouraged capital inflows. The USD/INR pair ended at 39.61 from 39.76 yesterday. • The 6-month and 1-year forward premium was at 1.06% and 1.25% as compared to 0.40% and 0.91% yesterday. • The Dollar strengthened against the Yen as a rebound in global stocks along with better than expected U.S retail sales data helped to soother worries about the health of

The Rupee strengthened against the dollar Posted: 14 Feb 2008 09:12 AM CST • The Rupee strengthened against the dollar as the sharp recovery in the domestic stock market helped to improve investor sentiment and encouraged capital inflows. The USD/INR pair ended at 39.61 from 39.76 yesterday. • The 6-month and 1-year forward premium was at 1.06% and 1.25% as compared to 0.40% and 0.91% yesterday. • The Dollar strengthened against the Yen as a rebound in global stocks along with better than expected U.S retail sales data helped to soother worries about the health of

The BSE Bankex rose 4.64% to close at 10614.09 Posted: 14 Feb 2008 09:08 AM CST • Indian stock markets surged today driven by heavy short covering in the derivatives segment coupled with positive cues from overseas markets. The Sensex rose 4.8% to close at 17766.63, while the Nifty index gained 5.5% to close at 5202.00. Oil retailers rose sharply today the Cabinet finally approved raising petrol and diesel prices by Rs. 2 per litre and Re. 1 rupee per litre respectively. Bharat Petroleum Corp jumped 11% while Hindustan Petroleum Corp climbed 15%. • The BSE Bankex rose

Indian call rate ended at 6.3% today Posted: 14 Feb 2008 09:04 AM CST • India's 10 year bond ended marginally higher recouping the losses of the day on hopes that RBI will not carry out more auctions under the MSS next week after rejecting some bids in the MSS auction today. The yield on the 7.99% note maturing in April 2017 was at 7.45%. • Indian call rate ended at 6.3% today. RBI absorbed INR 81.3 bn from the banking system. • U.S 10-year Treasuries were little changed before Federal Reserve Chairman Bernanke's testimony to the Senate Banking Committee in

Crude oil rose on the back of strong economic data from US and Japan Posted: 14 Feb 2008 09:01 AM CST • Crude oil rose on the back of strong economic data from US and Japan. The US reported good retail sales numbers while Japan reported a more than expected GDP estimates. Crude oil for March delivery was at USD 93.99 a barrel. (17.30 IST) • Gold rose today after South Africa's national utility said that the power cuts to mines would last another four years. Power supply to the mines would be less than their normal needs. Gold for immediate delivery was at 912 USD/oz in London. (17.30 IST)

Mid-Day Forex Technical Report - Dollar Mixed, Bernanke Awaited Posted: 14 Feb 2008 08:41 AM CST Action Insight Mid-Day Report Dollar Mixed, Bernanke Awaited Dollar remains mixed in early US session after narrower than expected trade deficit in Dec and as traders are cautiously waiting for Bernanke's Testimony before Senate Committee. Trade deficit in US narrowed more than expected by 6.9% from -63.1b -58.8b, better than expectation of -61.0b, thanks to rising exports and falling imports. The goods deficit with China also narrowed 0.6% to 18.8b. Jobless claims dropped 9k from 357k to 348k

Currency Majors Technical Analysis Posted: 14 Feb 2008 08:37 AM CST American Session EUR/USD - Euro Dollar 1,4587. EUR USD made a false break and continues the actual trend.. EUR USD is in a range between 1,4540 and 1,4630. EUR USD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is high. Oscillators are neutral. The price should continue to move in Bollinger bands. We won't take a position. The risk/reward ratio is too high to take a position.. Resistances 1,4610 - 1,4630 Supports 1,4560 - 1,4540 more

London Session Posted: 14 Feb 2008 08:36 AM CST Thursday's London session saw most of the majors finally break from the consolidation levels of the past week. Despite a hot retail sales number out of the last New York session, the short lived dollar rally became an opportunity for most traders to sell on strength. The selling from the late US morning would pick up steam into London with Eastern European names taking the first crack at the greenback and spreading west. With a lack of market moving data during the

Global equity markets responded favorably as risk appetite grows once more Posted: 14 Feb 2008 08:32 AM CST Yesterday, U.S. retail sales came in stronger than expected and today's important data from the US will be released including the trade balance and initial jobless claims. Global equity markets responded favorably as risk appetite grows once more. Australia posted strong growth in employment numbers and Japanese economic growth data was also higher than anticipated. As a result we have seen more focus on the carry trade which drove the Japanese Yen lower against most currency pairs and pushed

I studied economics for two years at university, but my general knowledge of the area, especially of the theoretical aspect is superficial. How ever in my opinion economics is not always about theory/models etc, who has the best economic models, John Maynard Keynes or Milton Friedman. I believe sometimes it is about plain simple common sense, and knowing/understanding your country and society.

Third World countries and other emerging nations are of course as vulnerable as any advanced nation from any global recession. However there are as always basic simple strategies that can be followed when especially the American economy quickly slides into recession. The American economy can collapse, but that does not mean the rest of the worlds economy has to follow with them as it happened in 1929.

This area should be treated as a national security issue, as failure to take proper counter measures against a coming global recession can lead to massive social unrest, coups, and in some cases armed struggles within societies which lead to the break-up of that society.

In no particular order some rudimentary suggestions:

• Obviously if the American economy is going to collapse, you should hold as few dollars as possible, and you should diversify your reserve currency into as many currencies as such as the Chinese Yuan, perhaps the Euro, Brazilian Real or the Indian Rupee. In addition one should increase the stock of ones Gold, Silver, and precious stone reserves. So perhaps a mixed bag of reserve holdings. You should also take your money out of the USA, before their banking system collapses, and they are unable to pay your money back from their banks.
  
• I think the smaller the percentage of your economy engaged in global trade the better it is to with stand the full effects of a global recession. If only 7-15 % of your economy is engaged in international trade than the effects of global recession will be less on your country than that of an economy which is 20--40% active in international trade. Also the smaller the percentage of trade you have with the USA, than the better position you are in avoiding a global recession. Some form of a viable Autarky should be considered, and if ones economy is too small, than the next best thing is a regional autarky---linking ones economy more to the big economies of the region. China, Japan, India, Brazil, Russia etc.
  
• The global recession is partly/mainly about financial mismanagement in the USA. In the USA financial speculation and financial bogus scams have created this serious matter in the USA and consequently the rest of the world. America for quite a while filled with imperial hubris has been following banana republic economics, which to an extent, China, Japan and South Korea, along with the rest of the world has been paying for. The Americans have been dancing around the world with GWOT---a fake illusion, meant to distract the world, whilst enhancing their power viz the rest of the world. This situation cannot last for ever, and as this banana republic system of financial mismanagement collapses, it of course threatens the rest of the world's economies. One of the key counter measures is to reduce the activities of the speculating market in your economy, and as an extreme measure close the stock exchange down. Great nations have been built in the past without the need for a stock exchange. In addition tighten the activity of the financial sector, and regulate the printing of money, and the setting of interest rates. One should also consider closing all American banks in ones country.
• Many nations after the 1929 Wall street crash recovered quickly. The solution was well planned/central financed stimulus of the economy into asset/capital building projects such as industry and infrastructure. This requires an efficient bureaucracy, and incorruptible government which spends the nations money properly/efficiently. Corrupt governments such as those in Zimbabwe or Iran are obviously not going to succeed, they are doomed. In Iran with massive new oil revenues, the government tried to stimulate the economy through spending, but instead it has resulted in economic disaster----the managers of the economy are corrupt and worthless British backed puppets with their heads in the Koran, selling large parts of the economy to mysterious foreign capitalists, and a country of that size dependent on imported fuel, because they didn't achieve self sufficiency---autarky. So now the Iranian economy is very vulnerable. Obviously such a program to protect the economy and stimulate it relies in the central government being well organized, not corrupt and in control of their countries economy----anticipating in advance the collapse of the American economy and making all necessary contingency plans.
• Many revolutions around the world have been sparked by the lack of food, and that was certainly the case with the 1789 French Revolution, 1917 Russian Revolution and a few others. All governments need to make sure that food stocks, and supplies are well maintained developing good relations with food exporting nations such as Brazil, Argentina, Canada etc. Whilst there may be economic hardship, during the American recession, food supply must be well stocked in all nations. This is not a financial issue, as the cost of food can be covered quite easily by most well organized government through proportional taxation. This is primarily an organizational issue and about planning ahead. Obviously certain Third World countries need to rethink about exporting food in such a scenario of global recession, and concentrate on staple diet agriculture rather than cash crops export.
• Finally in the realm of security and national stability, the emergency services need to be trained for such a scenario. During a global recession, massive numbers of people will be traveling in search of food, and employment, and the situation will become desperate---quite, quite desperate. Depending on how efficient the national government is, much of the worst security implications can be avoided.
  

Rupee / US Dollar Forex Currency News, Gold in India, and The Sensex index on the Bombay Stock Exchange (BSE). Euro / Rupee and Yen / Rupee.

Title	HubScore	1 day	7 days	30 days	ever	published
53 hubs	73	122	2482	37440	143677	147070
Bush Tax Rebate Stimulus Plan - 2008 Rebate Check▼	95	81	2208	34762	130199	130199	1201226586 01/24/08
What is Stagflation? What?...Stagflation....▼	94	0	12	207	1194	1194	1201729413 01/30/08
2008 Forex Market Predictions From the Trading desk▼	94	1	10	158	376	376	1202449446 02/07/08
Apple iPhone update 1.1.3 made my iPhone a brick▼	92	3	5	73	594	831	1200431468 01/15/08
Stock Market Crash 2008▼	92	13	37	396	2357	2357	1200983973 01/21/08
Senate 2008 Tax Rebate compared to House 2008 Tax Rebate Plan	90	4	94	993	1231	1231	1202353029 02/06/08
Super Bowl (42) XLII 2008 Who Won? NY Giants beat the NE Patriots 17-14▼	88	3	5	93	3789	3789	1200728784 01/18/08
Free Tax Preparation Software Websites and Services	84	0	4	35	50	50	1202624440 02/09/08
Across The Universe Day▼	83	0	1	11	89	89	1202152137 02/04/08
The New 2008 American Gladiators	83	0	14	73	254	356	1199986868 01/10/08
Green Bay Packers vs. New York Giants▼	83	3	0	11	2085	4463	1200277388 01/13/08
The Psychology of Color▼	81	2	2	61	61	61	1202871228 02/12/08
Google Trends and Yahoo Buzz	81	1	4	20	55	181	1200193320 01/12/08
Chicago Illinois Foreclosure Urban Rehabber Program▼	81	0	7	67	67	67	1203107401 02/15/08
Paulson Foreclosure Delay Plan▼	79	0	1	83	83	83	1202832700 02/12/08
Roger Clemens	79	0	2	38	60	73	1200114094 01/11/08
Amy Fisher Sex Tape for sale▼	78	0	1	13	88	144	1200160460 01/12/08
Illinois Energy Deregulation Chicago Residential Electric▼	78	0	6	65	65	65	1203014463 02/14/08
Illinois Prepaid iPhone 1.1.3 saga update	77	0	2	9	47	92	1200532769 01/16/08
The 31 Major Causes of Failure	75	0	3	11	36	36	1202612911 02/09/08
AT&T, iPhone 1.1.3 SMS text and Edge network accounts deleted Chicago	75	2	3	10	126	179	1200495263 01/16/08
All The Talk of a Barack Obama assassination	74	1	3	16	22	22	1202616009 02/09/08
The Art of Negotiation - Negotiate like a Pro	73	2	0	3	8	8	1202698678 02/10/08
Girl Scout Cookies Thin Mints	73	0	0	6	57	81	1200070612 01/11/08
Qassia Hot New Referral Site	72	0	1	7	50	124	1200374966 01/14/08
David Spades playmate baby Howard Stern called it▼	72	0	0	11	68	68	1200854575 01/20/08
Britney Spears obituary from AP	72	0	0	1	112	112	1200692549 01/18/08
Kristy Lee Cook-ing on American Idol	71	0	0	28	41	41	1200789119 01/19/08
CheeseCake CheeseCake CheeseCake	71	2	2	27	27	27	1202749004 02/11/08
Kosovo Declares independence, Does it lead to war with Serbia	71	0	28	28	28	28	1203267700 02/17/08
Mythology, Psychology, and Jung	70	0	0	15	15	15	1202790510 02/11/08
Is Eddie Murphy married or just crazy?	69	0	0	2	16	16	1200965290 01/21/08
WGA writers strike ends agreement details	69	0	1	11	17	17	1202690378 02/10/08
2008 State of the Union Drinking Game	68	0	1	1	34	34	1201560944 01/28/08
2008 NBA Championship Finals Game point spread prediction	68	0	12	22	22	22	1203218389 02/16/08
Author Larry McMurtry comes back with Comanche Moon	67	0	0	1	14	14	1200955269 01/21/08
Terminator kills in Ratings	67	0	1	4	19	19	1200975531 01/21/08
Prostrate Cancer Problems Prevention Cures Remedies	67	0	0	2	29	29	1202263492 02/05/08
Trojan Horse or Virus-Cracker or Hacker	67	2	0	1	13	13	1202492734 02/08/08
Yuwie - Crushing MySpace and Facebook	67	0	2	13	13	13	1202795892 02/11/08
Mac World	67	0	0	2	16	245	1200103987 01/11/08
Surviving Driving	66	0	1	5	5	5	1203051706 02/14/08
Tom Cruise waits to be beamed up	65	1	0	0	12	23	1200624810 01/17/08
Al-Qaida or Al-Qaeda	65	1	0	7	27	27	1202443038 02/07/08
What makes it a Condominium	65	0	0	5	11	19	1200257909 01/13/08
Howard Stern	64	0	1	6	26	49	1200072505 01/11/08
UFC vs Boxing	63	0	0	1	11	16	1200612363 01/17/08
2008 fantasy baseball commissioner	63	0	1	5	5	5	1203222628 02/16/08
Free the iPhone Petition	62	0	1	1	31	31	1201551745 01/28/08
New York Real Estate Law	62	0	1	5	7	16	1200257515 01/13/08
2008 nhl stanley cup playoffs and finals	62	0	5	8	8	8	1203224688 02/16/08
Missile to Shoot Down Toxic Spy Satellite	62	0	0	7	7	7	1203139666 02/15/08
Small Business Success and Online Advertising Facts	49	0	0	0	0	0	1203311584 02/17/08

Indian Rupees, Gold, and American Gladiators...all taking off in 2008

Rupee / US Dollar Forex Currency News,
Mumbai, Jan. 9 For the safe haven metal there is no turning back as yet, for it has already broken its last high of $850 an ounce set in 1980 thrice this year to reach the new all-time high of $887.85/oz.
Tracking this international movement, the price for gold was stated at Rs 11,330 per 10 gm, the highest recorded in the country. Although the fundamental factors pushing gold prices up remain the same, launch of gold futures contracts at Shanghai Futures Exchange for the first time on Wednesday is believed to push up prices, according to analysts. Slow movements
However, while the international prices are going up by leaps and bounds, prices in India are only scaling up in inches. The reason for this is that the rupee has appreciated by 0.45 per cent during price surge in gold since January 2.
A old continues to surge, we have imporant matters regarding the American Gladiators contest on NBC, now back from 1989, we have the new 2008 American Gladiators. If you dont visit the new American Gladiators fan site to see Siren or Crush, you are missing the action.Gladiators Ready??
Since then (January 2), while dollar price of gold has moved up by 5.60 per cent from $840.75/oz to $887.85, price in Indian rupees have gone up only by 4.48 per cent from Rs 10,815/10 grams to Rs 11,300. And even so, with the appreciating rupee that is keeping the Indian gold price from going through the roof like in the overseas market, disparity in the market price and banks’ landed cost of imported gold has been widening.
Banks’ landed cost of gold on Wednesday was Rs 11,358-11,375/10 gm.
Disparity in the market price of gold and banks’ cost is a function of poor demand and high prices, said a bank official. Discount ruling
There is a huge discount ruling in the market right now from the banks’ cost, though there is no straightjacket formula to calculate it, said a bank official.
Standard gold is at a discount of 2 per cent in the market as supply is being met from scrap sales, which does not carry premium as imported gold, said Mr Suresh Hundia, President of Bombay Bullion Association.
Gold in India, and The Sensex index on the Bombay Stock Exchange (BSE). Euro / Rupee and Yen / Rupee.