Gold had hit an all-time high of Rs 11,492 on the Multi Commodity Exchange, the largest commodity bourse. The gold contract has gone up more than 7 per cent so far in 2008. Traders said the demand for gold is dull, as many people are expecting that the prices will come down.
It is saffron, (botanical name Crocus Sativus). Derived from the dried reddish-purple stigmas of the saffron crocus, it takes anything from 70,000 to 250,000 flowers to make one pound of saffron.
Gold has tripled in price, from $270 an ounce to over $850. Still, it may have further to go. In real terms, given the massive devaluation of the dollar since 1980, gold is relatively cheap. It's not the bargain it once was, but it could move higher.
As global tensions put pressure on the cost of crude oil, sending petrol prices above 1 a litre across the UK, This is Money investment writer Philip Scott investigates how investors can profit from rising oil prices.
When demand for the dollar outstrips the supply, the value of dollars goes up. But the supply of dollars has been rising steadily at an average of 10 per cent annually from less than $1 trillion in 1980 to over $12 trillion today -- and the fundamentals for gold today have much to do with the resulting drop in demand for dollars.
Want a racing certainty for the coming year? Take a look at the dollar and gold... Who can say what 2008 may bring? A post-Olympics crash in China, perhaps, tipping its near-10 per cent annual rate of expansion into an historic slump.
The bill which passed on a bipartisan vote of 314 to 100, sets higher fuel economy standards for cars and light trucks for the first time in 22 years and requires the annual production of 36 billion gallons of renewable fuels by 2022.
Several exporters in Surat said they are finding it tough to clear their stocks for Christmas as they are not in a position to contain the price rise caused by the GSP withdrawal and strengthening of rupee against dollar.
A press release by the IIM says that the seminar is expected to see representation from from Punjab, U.P, Maharashtra, Uttarakhand, Chhattisgarh, Orissa, Tripura, and Assam.
According to a Centre for Monitoring Indian Economy press note, nearly 30.6 million hectares were sown as of November 23, against 34.5 million hectares a year ago.
According to officials, after launching sugar successful on its electronic platform, NCDEX Spot has decided to go in for more commodities.
India's biofuel sector witnessed another boost this week with Praj Industries, the Pune-based biofuel technology company, joining an Icrisat-backed consortium to promote ethanol production from sweet sorghum.
According to agriculture department officials, the state is heading for a bumper paddy harvest despite a slight reduction in acreage compared with the previous year.
Giving a clear signal to the world that the US is all set to tap the China market, the US Department of Agriculture last week opened a new agricultural trade office in Chengdu, the capital of southwest China's province of Sichuan.
The study paper -- 'Skills Gaps in the Indian Logistics Sector' -- estimates that currently India has only some 3 million truck drivers for medium and heavy commercial vehicles. Even if 50 per cent of all drivers in India are to be trained, almost 125 institutes of the size and scale of the existing one in Namakkal will be required in the next 7-8 years, says the paper.
ICICI Venture Funds Management Co. acquired 3.55 per cent, Infrastructure Leasing & Financial Services 5 per cent and Kotak Group 1 per cent in MCX from the holding company Financial Technologies. The transaction values the company at $1.1 billion.
In talking about the market in crude oil we often looks for items, events, and structures that repeat themselves. We pin some kind of faith on them because we are unable to see the future with any real clarity. For regular readers of this column, you will realise that this is the start of an explanation as to why we predicted crude oil would be $66.60 at Christmas.
His name is Lee Lowell -- and he's one of those rare men in the investing world. He's not about flash. He doesn't drive a fancy car or wear $2,000 suits. He's not about climbing the ladder at any of those hotshot trading firms (though any firm would be glad to have him).
Fears of 'Darjeeling Tea' losing its charm have been growing for quite sometime now. Another factor added to the worries of 'Darjeeling Tea' producers was the plantations' heavy dependence on fertilisers and pesticides that were being hawked by foreign corporations. In the recent days, there is a wind of optimism blowing through the Darjeeling hills, and a growing sense that Darjeeling Tea is on its way to reclaiming its legendary status.
Will a US recession tip the entire metals complex, including Gold Prices, sharply lower in 2008...? Add the falling dollar to rosy growth forecasts from China and what do you get? If you guessed higher commodity prices, you get a gold star. Yet among the big investment institutions, there's mixed opinion about what metals prices will do in 2008.
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