Archive for: June 2016

Gold To Zoom To Rs 33,500 By 2016-End

goldGaining from safe haven buying after the Brexit referendum, gold prices are likely to remain firm and hit Rs 33,500 by the end of the year due to factors like US elections, ongoing geopolitical tensions and volatility in currency markets, experts said.

“Post-Brexit, there is uncertainty that will be positive for gold. By December 2016, we expect gold to reach around Rs 33,500,” Commtrendz research director Gnanasekar Thiagarajan told PTI.

Gold is expected to touch $1,475 an ounce by the end of December, he added.

Gold rates surged 8.2 per cent to $1,319 an ounce on Friday after Britain voted to leave the European Union.

In India too, gold prices zoomed by over Rs 1,000 to over Rs 30,875 per 10 grams.

Mr Thiagarajan said central banks in EU and the UK are expected to resort to monetary easing and stimulus packages to boost their respective economies.

“Such measures would boost gold prices, as the cost of holding gold decreases and the potential to rise during times like this makes it more attractive compared to other risky assets,” he added.

Besides this, other risk events like the US elections and Chinese debt levels are a matter of huge worry for investors, he said.

Angel Broking associate director-commodities and currencies business-equity research Naveen Mathur said the US dollar is likely to weaken going forward, which initially may be firm due to Brexit, making gold a safe haven for investors.

“Weaker US dollar, which is negatively co-related with gold, is likely to make it an attractive asset class. In the short term, gold may hold at Rs 31,500-32,500 levels and in the international markets, it is likely to be at $1,400 levels. Economic and political uncertainty will also keep gold bullish,” he added.

SMC Global Securities AVP-commodity research (fundamental) Vandana Bharti said the ongoing geopolitical tension, good ETF (electronic traded fund) inflow and festive demand will support gold.

“There are ongoing geopolitical tensions, the US elections and slowdown in Chinese economy which will have a positive impact on gold prices. Brexit will take two years to be completed as the process will be a long one,” she said.

Gold prices are likely to test $1,440 on the upper side and $1,220 on the lower side by the end of 2016, she said.

“In rupee terms, we are expecting gold to be at Rs 34,000-35,000 on the upper range and it will not fall below Rs 28,000,” she added.

G V Sreedhar, chairman of All India Gems and Jewellery Trade Federation (GJF), said the rising prices of gold is in line with market expectations and has created a positive consumer sentiment and the demand is growing.

“There is too much volatility in the market and the gold prices are expected to touch $1,400 by end of 2016 or mid-2017.”

“In a week or two, it will settle down as both jewellers and consumers will adjust the rising prices. Good monsoons will also boost consumer sentiments and support in increasing the sale of jewellery this season,” he added.

United Bank of India: 100 Probationary Officer Posts

UBI Recruitment 2016Candidates who are interested in Indian banks govt jobs can apply for this United Bank of India Jobs Notification 2016. United Bank of India (UBI) has published a notification for the recruitment of 100 Probationary Officers in Junior Management Grade/ Scale-I through one year Post Graduate Diploma in Banking & Finance course in tie-up with NIIT-Institute of Finance, Banking & Insurance Training Limited. Desirous candidates may read the following mentioned, UBI Jobs, information carefully and can apply online on or before 12.07.2016. The details including eligibility criteria, term of reference etc. of the above UBI PO Jobs appointment are available below. Read more

Hyderabad to Dammam: Jet Airways to start new daily services

Jet-AirwaysThe addition of these new services will bolster Jet Airways offering to the Arabian Gulf region, further strengthening the airlines growing network and significantly enhancing connectivity for passengers.

Dammam will be the second city in the Gulf region to be connected with Hyderabad by Jet Airways after Abu Dhabi. Read more

AirAsia offers domestic flights at Rs 899, international at Rs 3399

AirAsia offers domestic flights at Rs 899, international at Rs 3399

India’s low-cost budget carrier AirAsia India on Sunday announced discounted airfares, starting from Rs. 899 one way. The limited-period scheme is valid from June 13 to 19. Read more

Mercedes launches Sport Edition of A-Class, CLA and GLA in India

mercedes-cla-sedanGerman luxury carmaker Mercedes- Benz on Sunday launched special edition variants of A-Class, GLA and CLA in India, priced between Rs 25.95 lakh and Rs 35.26 lakh (ex-showroom Mumbai) to commemorate UEFA Euro Championship, which kicked off in France last week.

The new Sport Edition of the A-Class, CLA and GLA celebrates the spirit of the UEFA EURO 2016 in India. Read more

Hyderabad Police launch mobile app ‘Hawk Eye’

Hyderabad Police launch mobile app 'Hawk Eye'To facilitate user-friendly service to citizens, the Hyderabad police will be integrating two of its apps to ‘M-Wallet’ which was launched recently by the Telangana Regional Transport Authority (RTA).

Police and RTA officials have decided to integrate the data bases of the user-friendly app with ‘Hawk Eye’ and ‘Hyderabad Traffic Live’ apps. Read more

No trains from July 11? Railways employees call for indefinite strike

Railways employees indefinite strike july 11No trains! 1.3 million Indian Railways employees call for indefinite strike from July 11.

The National Federation of Indian Railwaymen calls for an indefinite nationwide strike from July 11, 2016. The committee has decided to serve Strike Notice on June 9.

M Raghavaiah, NFIR General Secretary said that response of the central government on the charter of demands submitted in December 2015 has been very disappointing and casual. Read more

Jaguar XE Prestige launched at a price of Rs. 43.69 lakhs

Jaguar XE Prestige

  • New features include rear parking camera, sunroof, and new upholstery
  • Jaguar XE Prestige is powered by the same 198bhp, 2.0-litre petrol engine

Jaguar XE, the British carmaker’s latest offering in India has received a new Prestige variant. Priced at 43.69 lakh (ex-showroom, Mumbai) the new variant will be placed between the currently selling XE Pure and XE Portfolio variants priced at 39.9 lakh and 47.99 lakh respectively (Both ex-showroom, Mumbai). Like the previous two variants, the XE Prestige is also available in only petrol trim as of now. Read more

LG Mosquito Away TV Launched Starting Rs. 26900

lg-mosquito-away-tvSouth Korean consumer electronics major LG Tuesday launched its new range ‘Mosquito Away TV’, which acts as mosquito repellent, in India priced between Rs. 26,900 and Rs. 47,500. Read more

Datsun Redi go launched at Rs 2.4 lakh

Datsun_redi_GO_GreenAfter weeks of speculation about its starting price, the Datsun redi-GO was finally launched on Tuesday at a price of Rs 2.39 lakh for the base model, among five different variants. The top-of-the-line model will go up till Rs 3.34 (both prices ex-showroom Delhi).

After two rather unsuccessful previous attempts at luring Indian markets with the GO and GO+, Datsun is aspiring to get third time lucky with the redi-GO.

The small car is based on the same CMF-A platform as its Renault cousin, Kwid that has proved to be a raging success in the country. However, it sports a tall-boy design as opposed to the Kwid’s squatting SUV stance. Read more

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