The primary purpose of this blog (Prithviraj Kothari 's view on Bullion Markets - MD, RSBL (RiddiSiddhi Bullions Ltd.)) is to educate the masses of the current happenings in the Bullion world.

 

 

 

GOLD nearing 1650?(31/10/2012)
Gold and silver tumbled once again this week with other commodities like crude and stocks.
This was over lapped with the depreciation of the Euro and other important currencies against the USD.

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SONE pe ZANJEER! ( 28/10/2012)
Few of my images from an interview cum panel discussion on a special show named “Sone pe Zanjeeer” aired on CNBC Awaaz on 27th October. It was a special story covering gold, its side effects and alternate ways of reducing fiscal deficit rather than levying high import duty on gold.
It was my call that the government must introduce gold bond schemes in the market. This is the best way to get the household gold into the market. This gold in turn will be borrowed and lent. This will in turn balance the economy.

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GOLD FAILS TO BREACH THE $1800 MARK (21/10/2012)
Last month gold was at an 11 month high. It increased by almost $65 in September following the Fed’s announcement of QE3 launch.
However this week there were mixed sentiments from the market. In the beginning of the week, Gold gained support from ETF buying. Gold holdings with SPDR ETF hit record high level last week and rose for the eleventh consecutive week. Also supporting gold price were the continuing labor problems in South Africa. As per latest reports, mine workers have rejected revised pay offer by gold companies. Tensions could rise in coming days as mining firms may prepare to carry out more mass firings if the strikers don’t return to work. Meanwhile, central banks have continued to take measures to support their economy.

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Gold Loses its Glitter (15/10/2012)
Last fortnight gold reached $1796.5- an 11 month high; following comments by ECB president Mario Draghi that more bailouts maybe approaching. He stated that “euro” is irreversible and that the bank was equipped to purchase the bonds of indebted countries.
Positive jobs figures, which raised hopes that Federal Reserve intervention through a third round of quantitative easing (QE3) will be short-lived, have boosted the US currency, while the euro has been under pressure from news that Spain may resist asking Brussels for a bailout.

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Oh my GOLD! (15/10/2012)
Reasons for price rise in Gold Rise in gold prices can be attributed to various reasons - global crisis, economic growth data from various countries, rising unrest in Syria etc. Gold prices fluctuate on a weekly basis due to data released from various countries which directly affect bullion prices..

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GOLD ALL SET TO SHINE (8 /10/ 2012)
Last week again, gold reacted to various factors like US jobless claims report, SPDR Gold Trust, Canada Employment report and ECB Interest rates.
News released in the market that European Central Bank was prepared to buy bonds to help the nations facing economic turmoil which led to a rise in gold prices with gold reaching almost an 11 month high of $1796.5 on Thursday.

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WAIT & WATCH: The mantra for precious metals! (2/10/2012)
Gold and silver did not show much movement and remained almost stable on Wednesday.
Gold edged up by 0.3% last week and reached an average of $1772.34 which is higher than the last week average of $1749.04. Silver too increased by 1.8% and reached an average of $34.6 compared to last week’s $33.99

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The primary purpose of this blog (Prithviraj Kothari 's view on Bullion Markets - MD, RSBL (RiddiSiddhi Bullions Ltd.)) is to educate the masses of the current happenings in the Bullion world.