Spot Scripts

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# OIL & GAS DEVELOPMENT COMPANY Spot from 8-12-09
10% Dividend
Book Closure Date 15-12-09

# FAUJI FERTILIEZER LTD. Spot from 14-12-09
30% Dividend
Book Closure Date 18-12-09

# SONERI BANK Spot from 14-12-09
20% Right
Book Closure Date 18-12-09

# 1ST PARAMOUNT MODARABA Spot from 24-12-09
15% Dividend
Book Closure Date 2-1-10

Spot Scripts KSE (Karachi Stock Exchange)

Spot Scrips


NAMCO BALANCED FUND Spot from 28-10-09
5% Dividend
Book Closure Date 4-11-09


JAVEDAN CEMENT Spot from 2-11-09
100% Right
Book Closure Date 7-11-09


1ST TRI-STAR MODARABA Spot from 3-11-09
5% Dividend
Book Closure Date 11-11-09


GATRON INDUSTRIES LTD. Spot from 5-11-09
15% Dividend
Book Closure Date 13-11-09


PAKISTAN TOBACCO CO LTD. Spot from 6-11-09
27.5% Dividend
Book Closure Date 14-11-09


PICIC ENERGY FUND Spot from 10-11-09
5% Dividend
Book Closure Date 17-11-09


PICIC GROWTH FUND (SEMF) Spot from 10-11-09
20% Dividend
Book Closure Date 17-11-09


PICIC INV FUND Spot from 10-11-09
5% Dividend
Book Closure Date 17-11-09


NESTLE MILK PAK LTD Spot from 11-11-09
100% Dividend
Book Closure Date 18-11-09


ENGRO CHEMICALS PAKISTAN LTD. Spot from 13-11-09
20% Dividend
Book Closure Date 20-11-09


SHAHEEN INSURANCE Spot from 13-11-09
14.28% Bonus
Book Closure Date 20-11-09


AL-MEEZAN MUTUAL FUND Spot from 16-11-09
10% Dividend
Book Closure Date 21-11-09


HUFFAZ SEAMLESS PIPE INDUSTRIE Spot from 16-11-09
25% Bonus
Book Closure Date 21-11-09


JS VALUE FUND LTD. Spot from 16-11-09
10% Dividend
Book Closure Date 21-11-09


Meezan Balance Fund Spot from 16-11-09
10% Dividend
Book Closure Date 22-11-09


PAK GULF LEASING Spot from 16-11-09
5% Dividend
Book Closure Date 21-11-09


PAKISTAN STATE OIL Spot from 16-11-09
30% Dividend
Book Closure Date 21-11-09


DAWOOD HERCULES CHEMICALS LTD. Spot from 17-11-09
15% Dividend
Book Closure Date 24-11-09


EYE TELEVISION NETWORK Spot from 17-11-09
3.5% Dividend
Book Closure Date 24-11-09


SERVICE INDUSTRIES LTD. Spot from 17-11-09
75% Dividend
Book Closure Date 24-11-09


JAHANGIR SIDDIQUI CO LTD(BSJS) Spot from 20-11-09
10% Dividend
Book Closure Date 27-11-09


MCB BANK (MUSLIM COMM BANK) Spot from 20-11-09
25% Dividend
Book Closure Date 27-11-09

Kse Stocks updates

The bullish trend in kse is towards end and its bit risky to wait for more.Its perfect time to take profit and sell few shares but if you dont want to risk then you can sell all your shares.Correction is near so be careful and sell shares.

no preffered stock at time being

KSE Updates

Sorry for being away from karachi stock exchange but now i will be updating regularaly.I have been asked by people that why i dont recomend Banking sector stocks.So i am writing this post for those who asked me this question.Well dear banking sector is working on interst basis so what i think trading in banking sector shares is not hilal.When i feel a thing is not good for me so how i can recomend it to my brothers.I know there are few banking stocks which are good but uss paisy ka kia karna jis sy akhrat kharab ho.

As far as market startegy is concerned ,a correction is taking place so dont buy the share yet and if you still having the share then you need not to sell it now as the major part of correction is over and its on last stages

Gold Price Predictions

Well dear friends as you people know that gold was not able to cross the barrier of 970$ in its previously really>now a correction has taken place and may be in a day or so it will be ready to go for another rally and its expected that this time it will cross the $970 level and if it crossed this level then its very likely that it will again break the level of $1000.
My recomended approach is buy at $ 945 and target at $ 960.

KSE Predictions

Fluctuating within a range of 100 point , yesterday KSE 100 index maintained its bullish momentum. The volume also expanded 55.7 percent . So it’s a healthy sign. DGKC was the leader on turnover of 19.71mn shares, JSCL (17.85mn), OGDC (15.82mn), LUCK (12.19mn) and UBL (11.45mn). Yesterday, more of a balance was witnessed between the demand and supply forces. Though, despite negative divergence observed on 14-day RSI, the market action above its short-term averages keeps the immediate outlook positive. For today, sustainability above 7,790-7,750 should look for 7,914-7,942 levels, resistance can come up around 8000 level. Failure to do so, would put focus at 7700 levels.

Preferred Stocks: DGKC, OGDC,ENGRO,FFC,NML PSO, AICL and ANL

KSE Predictions

KSE is getting stablized now.People are getting back into it as ongoing load shedding has adversely effected the other businesses.So investors are coming back to stocks

Prefferd Stocks:

FFC,ANL,DGKC,nMl,ATLAS,Engro,OGDC

Gold Price Predictions

Well gold is at very lucrative position for short term.The ongoing oil prices and expected devalue of Dollar makes gold a product to invest.So,go for short term contract

Gold Price Predictions

I have got a mail from richard asking about crossing of 1000$.Well dear from my point of view this level will be broken but not yet.So feel safe that the train is not leaving yet.At present the bullish beahviour is due to present situation of the world ecnomics,the rise in oil prices has shifted some investors in the oil markets but the demand of gold is still there.At present it seems difficult to break the barrier of 975$.Gold is bearish in short terms and tend towards little bearish in long term.

i think one should target the limit 960$ for now on and put stop loss at 930

Gold Price Predictions

i think gold is taking correction so its time to wait a little.
but if u regularly trade then

short term:short gold 923 - 927, sell 929
long term: buy gold 912 - 893 , stop loss 890

Preffered Stocks At KSE

Today’s Strategy:

Place stop-buy above 7130~7150
targeting 7220~7230 levels.

Preferred Stocks:
DGKC, FFC,ENGRO, PPL, NML, OGDC,ANL

Latest Preffered KSE Stocks

Suggested Scripts:

FFC,ANL,DGKC,OGDC

Preffered Stocks At KSE

Well after all the efforts the market is still volatile and the post budget scenario remians the same as before.Rather i will say that the powerfull scripts are bearish now and to tell u the truth i think there is no hope for better things in near future.
However ,i still stand by the day trade method with limited exposure.The upward trends in interantional oil market is making Oil stocks little prefferable.At the same time FFC is also performing well.FFC has recently been axed,it will go up so you can buy it.

Guess The Usage of Wapda Transformer?

This is the Picture which has been sold to BBC.
The Person Who Submitted it, He informed them that WAPDA workers are trying to remove the moisture from the Transformer's Oil by heating it with coal fire under it.

:P

Latest Preffered KSE Stocks

Although the situation in stock markets are bit risky but there are few shares which have proved themselves as all time gold.

My recomended stocks:

my approach remains the same ,play low and play safe.One of the best way is that dont go for delivery, just use day trade with upper & lower limits.E.g if at day end some stock price is 23.
then u can place order for next day as buy at 22.3 and sell at 23.5.This will surely give u something without exposing you to unnncasary harms

1. ANL ( it has just touched its all time bottom so now its on upward trend, buying this bullish stock is great apportunity)

2. DGKC

3. DCL (risky but good for small investors)

Latest news on : Karachi Stock Exchange

Nervous trend observed on KSE
KARACHI: The Federal Information Minister's statement about additional taxation on capital market in the upcoming federal budget added to the nervousness on the Karachi Stock Exchange on Thursday. The market opened in the negative zone and the index hit intra-day low level of 6,841.55 points, going down by 219.17 points. However, late buying supported the market.

My Advice:
STILL PLAY LOW AND PLAY SAFE

Stocks updates

Due to prevailing situation in the world the markets have slumbe down.The main downtrned is over but still the upward curve needs some conformations which are not there yet.So stocks become risky and there is not stablization yet.

so my advice play safe and play little.




.

Educational Loans Basics

If your are living in USA and planning to get yourself equipped with latest education or going to earn some degree or thinking of going to college and you are scared of the financial Burdon attached to it then you are not alone ,a number of young people in USA are facing the same problem. There are number of solution to it and one of them is loan. Frankly speaking I am against loans and the reason is that when someone takes loan then that one is using or capitalizing ones financial cushion, financial freedom and economic comfort of tomorrow but at the same time higher education is important .

Scholarships can be a solution to it although in some of the scholarships one has to fill the bond of employment for some time but believe me its much much batter than taking loan and I recommend of getting hold of some scholarship .So you are the better judge yourself .Think of a loan as last resort. Don’t consider it as the first option.

Now, if you think that you just have last resort then there are few loan options available for you. Every option is different from other and each option’s suitability varies from case to case and individual to individual. So you are the best judge if in doubt get help from others.There are two main types Fedral Education loans and Private Education Loans.

1. Federal Education Loans: These are the loans arranged through the US government.

There are two main types of Federal Education Loans,

a. Federal Family Education Loan Program: Funding to Federal Family Education Loans is given by the private lenders .These private lender include banks, credit unions and various financial organizations. It has its own eligibility and repayment options.

b. William D. Ford Federal Direct Loan Program (commonly known as direct loan Program): Funding to federal direct loans is provided by US government. These funds are distributed through the respective educational institute i.e in case of Federal Education loans government will send the funds to Educational Institute and that institute will distribute it into the students. It has its own eligibility and repayment options.

It is important to note that there are few loans which are given to the parents or guardians of the students.

2. Private Education Loans: These are the loans which are given independently without any involvement of government. There are many non public organizations (banks, big companies) which provide funding to these types of loans but their interest rate can be higher.

There are also different kinds of student loans available depending on your field of study. You can get information from your college accounts departments but while choosing the loan option do consider the loan interest rates and the terms and conditions and remember an option suitable to someone else may not be suitable to you.

Source:

Student loans & Scholarships

KSE Stocks

Market is showing some mixed trends ,it seems that bulls are getting out of the market or staying away.but there are few stocks whicjh keep their market value.


Kse Preffered Stocks:

FFC,Fccl,Engro,DGKC,AICL

KSE Preffered Stocks

Due to upcoming results of NML it is really worth buying script bcz its expected they are going to annunce profit of 30 rs/share.APart from NMLother preffered stocks are,


Preferred Stocks: DGKC,FCCL, FFC, DAWH, EFUG, DSL, SNGP, DSFL, PICT, PNSC, AICL

The Height of Brilliance :P

(On September 17, 1994, Alabama's Heather Whitestone was selected as Miss America 1995.) Question: If you could live forever, would you and why?Answer: 'I would not live forever, because we should not live forever, because if we were supposed to live forever, then we would live forever, but we cannot live forever, which is why I would not live forever,'
--Miss Alabama in the 1994 Miss USA contest . ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,

'Whenever I watch TV and see those poor starving kids all over the world, I can't help but cry. I mean I'd love to be skinny like that, but not with all those flies and death and stuff.'
--Mariah Carey,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,

'Smoking kills. If you're killed, you've lost a very important part of your life,
'-- Brooke Shields, during an interview to become spokesperson for federal anti-smoking campaign .,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, '

I've never had major knee surgery on any other part of my body,'
--Winston Bennett, University of Kentucky basketball forward .,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,

'Outside of the killings, Washington has one of the lowest crime rates in the country,'
--Mayor Marion Barry, Washington , DC . ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,

'That lowdown scoundrel deserves to be kicked to death by a jackass, and I'm just the one to do it,
' --A congressional candidate in Texas .,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,'

Half this game is ninety percent mental.'
--Philadelphia Phillies manager, Danny Ozark,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,

'It isn't pollution that's harming the environment. It's the impurities in our air and water that are doing it.'
--Al Gore, Vice President,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,

'I love California . I practically grew up in Phoenix .
'-- Dan Quayle,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,

'We've got to pause and ask ourselves: How much clean air do we need ?
'--Lee Iacocca ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,

'The word 'genius' isn't applicable in football. A genius is a guy like Norman Einstein.
' --Joe Theisman, NFL football quarterback & sports analyst. ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,'

We don't necessarily discriminate. We simply exclude certain types of people.
'-- Colonel Gerald Wellman, ROTC Instrutor. ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,

'Your food stamps will be stopped effective March 1992 because we received notice that you passed away. May God bless you. You may reapply if there is a change in your circumstances.
' -- Department of Social Services, Greenville , South Carolina ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,

'Traditionally, most of Australia 's imports come from overseas.'
--Keppel Enderbery ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,

'If somebody has a bad heart, they can plug this jack in at night as they go to bed and it will monitor their heart throughout the night. And the next morning, when they wake up dead, there'll be a record.'
--Mark S. Fowler, FCC Chairman,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,

What is a Loan,its Types and Basics

Loan:

A loan is form of a debt normally considered in terms of money.Apart from money any other material like equipment ,materials,vehicles etc can be taken on loan.In monetry loans a lender gives money to a borrower with some terms and condition.Now the lender actually plays with the borrower under the clauses of "terms and condition".Borrower especially students or new persons at time of taking money dont read these terms and conditions carefully as one is more concerned about money at that time but the problem happens later.loan is provided on account of extra money termed as loan which lender will get from the borrower.For e.g if the lender give $1000 ,he/she may get $1100 back ,depending upon the interest rates.
Borrower has to return the money to lender in form of installments.These instalments can be regular or irregular depending upon the terms but what ever the case may be in start borrower pay the instalments according to schedule but later it becomes burdon on the borrower.He/She become irregular in paying the instalments and their ones trouble start.The panelities are heavy and its difficult for a borrower to repay beacuse no one knows of future.Apart from interest,additional restrictions may be added to the loan terms.
Now the question is who is the lender? The simple answer can be that any person having money can be a lender but normally the financial institutions are the lenders.These institutions are giants so they can easily enforce the terms mentioned in the contract and conditions.

Types of loan:
There are two main type of loans,
a. Secure loans
b. Unsecure loans
a. Secure loans:
These are the loans in which the borrower provide some type of guarrentee in form of some of his/her property (house,car etc).There are various type of secure loans,
1. Mortage loan: In this borrower pledge the house which one will get after paying the loan money.
2. Auto financing: These are the loans for automobiles.There are two types of auto loans.
I. direct
II. indirect.
A direct loan is the one in which bank gives the loan direct to a borrower.An indirect loan is the one in which bank gives the loan to the automobile manufacturer/dealerand they act as intermediate party.

b. Unsecure loans:
These are the loans in which bank dont pledge anything of borrower. These are given to the customers depending upon their credit ranking under the umbrella of various packages varying from institution to institution.These loans can be,
1. Personal loans
2. Overdrafts
3. Credit cards
4. Corporate bonds
5. Student Loans

The interest rates applicable to these different forms may vary depending on the lender and the borrower. These may or may not be regulated by law.

General Loan rules:
Every country has its own rules and regulations but generally following rules are being followed,
1. Loan is not considered as gross income to borrower as he has to return it.
2. Similarly repayment of loan is not considered as gross income to the lender.However,Interest paid to the lender is included in the lender’s gross income.
3. Interest paid to the lender may be deductible by the borrower in some cases.

Source: http://consolidatingstudentloans4u.110mb.com/

Gold price predictions

Recommend:

Strategy 1:
Sell 893/ Stop loss: 900/ Targets: 883 and 870


Statergy 2:
Sell on break 883 support if the strategy 1 could not entry.Sell: 881-882/ Stop loss: 887/ Target: 870

In current overbought state observed on minor filters in stock exchanges, and Kse index entering the volatility zone, the short-term trading oriented investors are advised to book profits between 7,515~7,725 levels, and wait for a decisive breakout before focusing at 8,108 levels.

KSE Preferred Stocks:

PTC, HCAR, INDU, ATRL, EFUG, FCCL, DAWH, BOP, MARI, PNSC, ICI, DGKC, NML, ABL, AICL, BAFL and UBL.

.

Student loan consolidation

Consolidation or amalgamation is the act of merging many things into one. In business, it often refers to the mergers or acquisitions of many smaller companies into much larger ones. The financial accounting term of consolidation refers to the aggregated financial statements of a group company as consolidated account.
There are many types of Consolidations like,
1. Bussiness Consolidation
2. Data Consolidation
3. Loan Consolidation
4. Memory Consolidation
5. Server Consolidation
6. Student loan Consolidation
Now Student loan Consolidation can be divided into three main parts,
a. Private Student loan Consolidation
b. fedral Student loan Consolidation
c. Direct student loan consolidation

Athough student loan consolidation is one option to manage the repayment of your student loans, it’s not the right option for all borrowers, particularly those who are simply trying to reduce their monthly student loan payments. In those cases, other repayment options may better suit borrower needs.so its very important that before student loan consolidation you check from various sources.the alternatives present and then at last u find it feasible then go for Student loan Consolidation.there sre many online loan consolidation service providers and student loanconsolidationcompanies.

KSE PREFFERED STOCKS

Preferred Stocks:

PTC, POL, HCAR, INDU, ATRL, EFUG, FCCL, DAWH, MARI, PNSC, ICI, DGKC, NML, ABL, AICL, BAFL and UBL.

latest KSE updates

Preferred Stocks:



OGDC, PTC, PSO, POL, ATRL, MARI, PNSC, ICI, DGKC, ENGRO, NML, ABL, AICL, BAFL, UBL, MCB and NBP

Gold prediction

The unit have been testing the resistance 939 and seem its hard to break out. RSI is giving a signal that the unit would give a correction soon.

Recommend Sell: 963-964 / Stoploss above 969/ Target: 947

Pakistan's Textile Sector: Cotton Update

According to latest data released by the Pakistan Cotton Ginners Association (PCGA), the arrival of bales as of March 15, 2009 stands at 11.30mn bales. This is against 11.22mn bales on March 1, 2009 and against 11.26mn bales (estimated) on March 15, 2008. The latest statistics translate into a marginal 0.3%YoY increase in cotton arrivals. Looking at arrivals from cotton producing provinces, we see that even a 19%YoY pickup in cotton arrivals in Sindh (estimated) has failed to stimulate total cotton arrivals. According to our estimates, arrivals from the Punjab belt have decreased by about 5%YoY and have dampened overall cotton production. After attaining some stability previously, late cotton arrivals and sticky cotton prices continue to add onto the embedded problems of the sector. However, big players operating at a larger scale are somewhat hedged against the cotton shortfall and sticky prices as most of the annual cotton requirement has already been procured during the key buying season. From this vantage, we believe that NML offers an edge in the present operating environment and we recommend a Buy on the scrip.

External account, inflation and interest rates

The movement towards the restoration of overall macroeconomic stability has certainly gathered pace in the last three months with the country achieving the milestone of a surplus in the Current Account after persistent deficits in the preceding twenty months. On a cumulative basis, the CA deficit stands at US$7.45bn in 8MFY09 as compared to a deficit of US$8.64bn in the same period last year, down 13.7%YoY. With international donor agencies fully supporting Pakistan’s nascent economic recovery, we think the external account will remain in a manageable state over the next four to six month period despite mounting pressures arising from the global financial crisis. This would of course depend on the GoP’s ability to maintain fiscal order and keep the budget deficit in the range of 4%-5% of the GDP. Empirically it has been seen that countries which have current & fiscal accounts in surpluses have experienced low erosion in economic growth during periods of slowdown in external capital inflows – a phenomenon which is in process these days. Maintenance of economic stability is a necessity if growth is to recover in the coming year, where we expect real GDP growth to recover to 4-4.5% in FY10.

Gold Prices continued to rise for US-Dollar

oaGold Prices continued to rise for US-Dollar investors early Thursday, hitting $951 an ounce in London's wholesale market as the greenback fell vs. all asset classes.World stock markets rose together with bonds, non-US currencies and all traded commodities after the Federal Reserve announced $1.25 trillion of "Quantitative Easing", creating money to buy long-dated US Treasury bonds and government-backed US mortgage debt."USD getting destroyed. Hearing Asian central banks buying Euro," said a London dealer to Bullion Vault this morning."Stops going off on topside," he added, pointing to bearish bets on gold being wiped out as the rising price broke above traders' stop-loss levels.Over on the currency markets – and for the first time since mid-Jan. – the Euro also jumped together with gold, adding to Wednesday's record one-session leap and hitting a fresh 10-week high vs. the Dollar above $1.3680.Crude oil broke above $51 per barrel. Copper jumped to a four-month high.The Fed's Nuclear Strike on US Treasury yields – which squished 30-year rates to new record lows – meantime rippled across government bond markets worldwide, with investors bidding up UK and German bonds so high, their 10-year debt yielded barely 3.0% by lunchtime in London."I am torn between deflation unleashed by a bursting credit bubble, and the inflationary pressures of the policy response," writes James Montier, strategist with Albert Edwards at SocGen in London.Trying to identify "cheap investment insurance" for clients this morning, Montier cites inflation-protected government TIPS as one possible solution. His "second inflation/deflation hedge" is gold."From an insurance point of view, most obviously...gold is the one currency that can’t be debased. Thus it provides a useful hedge against the return of [the Fed's] sort of beggar-thy-neighbor policy. In the event of significant prolonged deflation [on the other hand], what is left of our financial system is likely to collapse."Thus holding a money substitute isn’t such a bad idea against this cataclysmic outcome."Voicing concern at the recent surge in media coverage ("not hugely surprising given that gold is up some 30% since late October"), Montier adds that "Gold is massively under-owned institutionally" even as it "may have been moving up the list of attractive assets."The mainstream institutional appetite for gold has remained depressed."Recording an AM Gold Fix at $937.25 an ounce – its best level since March 2nd – the price of gold only stood sharply higher vs. the US Dollar, however.Wednesday's London close – one hour ahead of the Fed's $1.25 trillion announcement – saw gold hit five-week lows vs. the Japanese Yen, commodity-rich Canadian and Aussie Dollars, and the British Pound.Priced against the Euro, gold today traded 3.4% above Wednesday's 7-week low of €671 an ounce, but it failed to hold above the €700 mark – a level first broken on the way up in late January.Ahead of Wednesday's late surge in Gold Prices, notes Walter de Wet for Standard Bank this morning, "Gold and other precious metals sold off despite equities falling in the US and Europe, and despite a depreciation in the Dollar against the Euro [as well as] US Treasury yields declining."All these factors should have been bullish for gold. The only real factor weighing on the Gold Price [was] scrap metal flooding the markets."Recycled metal – originating from gold-jewelry owners taking profits to raise cash – began pouring onto the international market in mid-2008 as prices rose amid the global economic slowdown."[Although] many individuals expected to eventually re-acquire 22-carat pieces as the economy improved," reports Philip Newman, research director at GFMS in the consultancy's latest quarterly update, "Turkey switched from being a significant importer of gold in 2008 to a major net supplier of bullion."The world's fifth-largest gold jewelry consumer, Turkey imported an average 232 tonnes of gold per year between 2003 and '07."Most startling of all," adds Gargi Shah, writing for GFMS from India – the world's No.1 gold jewelry consumer – "for the first time since the Indian gold market was liberalized over 10 years ago, we are starting to observe near-zero levels of net imports."Back in the Western financial markets, meantime, and looking at Wednesday's $1.25 trillion injection of new money into US asset markets, "A lot of people thought the Fed didn't need to do this," notes John Authers for the Financial Times today."[Either] they know something we don't about the banks, or they think a lot more bail-out money will be necessary.""Should quantitative easing continue," says Emanuel Georgouras at precious-metals dealer Marex Financial, "you can expect to see further gains in gold."Contact





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