“Gold is still going to $2,000 an ounce this year,” said Michael Widmer, an analyst at Bank of America Merrill Lynch in London, who predicts a fourth-quarter average of $1,875. “It’s just going to take a little bit longer to get there.”
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Linkfest:June 07, 2012
Some stuff I am reading today morning:
Reliance AGM today:Whats on the agenda? (Moneycontrol)
Weak rupee hits foreign investors in India bonds (WSJ)
How the fake Rakesh Jhunjhunwala impressed the real one (ET)
Khalistan slogans raised at the Golden Temple (FinancialExpress)
You cannot recover if the pharmacy shuts at 6 pm (NileshShah)
Soros buying gold? (Bloomberg)
As Central Bank holds back, Europe scrambles on Spain (NYTimes)
This report is for informational purposes only.Not a recommendation to buy or sell.
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Apple Maps take on Google Maps
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What was that again?
“India’s gross domestic product (GDP) growth rate of 5.3 per cent (for the March quarter) has been a shocker. Till now, the markets had fallen heavily as liquidity was the issue. But the falling GDP shows problems are deep enough. The government has to do something about the oil subsidy. You will have to re-tell the India story. It is a broken picture now. Most corporates are sitting on cash and nobody is confident of investing in this scenario.
My overall view on market is that this year still remains surprising enough. Last year, we saw the benchmark Sensex fall 20 per cent. This year, I see the reverse happening. It has been volatile so far, but the markets will be up by the end of the year, compared to 2011. It could be two or eight per cent — I don’t know. But you will see a rally from the low levels, which will mean the markets will end higher. I’m not trying to say what the level could be, as there are too many events and uncertainties. In the worst-case scenario, the 50-share index Nifty could fall to 4,000.”- says Andrew Holland, CEO, Ambit Capital