[Archive] FOREX - Trends, Forecasts and Consequences (Episode 15: May 2012) - page 65
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Why do you advertise your PAMM without any success, tell me the secret?
I am trading and do not open any PAMM because it is the responsibility for the investors' money)
That's a good point.
Hi all.
And why should you advertise your PAMM without any success, tell me the secret please?
I trade and do not open any PAMM, because it is the responsibility for the investors' money)
You cannot reach a multimillion-dollar balance with your own funds, even with a super profitable strategy. But with PAMMs, you can. With stable trading 5-10% per week and 20-30% drawdown unremarkable traders made a million from a couple thousand quid in just one year. And the investors had never seen the trader before their eyes...
I think a breakdown of 1.2996 is possible. But the 1.2988 area will be difficult to overcome at once....
India has cancelled the excise tax on jewellery
8 May 2012
India's Finance Minister Pranab Mukherjee cancelled the excise tax on the sale of any gold jewellery on Monday, 7 May.
The decision should calm the mood among jewelers in India, who held a three-week strike in March against the higher tax and customs duty on gold jewellery.
Mukherjee launched a 0.3% excise tax increase for non-branded jewellery in India's federal budget on March 16, which prompted strong discontent among jewelers across the country, although large-scale jewelers selling branded gold items are paying 1% of the sales tax. During the May 7 parliamentary hearing, Pranab Mukherjee submitted amendments to the federal budget for the new fiscal year, which will provide for a 0.3% excise tax.
The new amendments also provide for an increase in the limit on cash purchase of gold jewellery without taxation. Gold jewellery purchases of Rs 500,000 ($9350) or more will now be taxed instead of Rs 200,000 as earlier envisaged.
However, India's finance minister left unchanged the increase in the customs duty on imports of gold jewellery, which had been raised from 2% to 4%.
The budgetary measures on gold are aimed at increasing its value and curbing its consumption in order to curb its imports, which have led to the country's trade deficit. Gold is the second commodity to be imported into the country after crude oil.
The abolition of the excise tax could help revive the demand for gold in India, which is the largest consumer of gold in the world. Therefore, attempts to attack the gold market by the government may prove futile.
Representatives of jewellery organisations in India welcomed the abolition of the excise tax on gold jewellery. According to them, jewelers were concerned about the introduction of this tax, as it would lead to additional paperwork and could cause bureaucratic abuses by tax officials.
Indian analysts estimated that India's gold imports could reach 750-800 tons by the end of 2012, assuming a normal June-September monsoon season.
Forecast on precious metals from Scottish bankers
8 May 2012
There are still more than half a year to go and investors have a chance to shift their 'focus' from one asset to another. This is no less true for metal prices, as financial institutions are already revising their 2012 forecasts.
In a recently published research note by Royal Bank of Scotland Plc, RBS experts changed their expectations of price movements in 12 different metals for the worse. Among the precious participants of the list it is worth mentioning the reduction of forecasted price of gold. Having studied the market situation, experts of RBS came to a conclusion that the cost of the yellow metal in 2012 will amount to $1725 per troy ounce. In comparison with its old forecast RBS reduced the price by 1%.
As explained their decision analysts of the bank, the world will see a gradual improvement in macroeconomic conditions, which will be the main reason for cooling the growing demand for gold. Traditionally, this asset has been regarded as a major safe haven for players, although the feverish volatility of 2011 has dampened the colors around it.
However, the level of $1,725 cannot be called the highest. RBS believes that the price of gold will go up this year to $1800 in the fourth quarter of 2012, after which there may be a downward trend. However, they don't expect last year's highs of almost 1930$ per ounce.
At the same time, the price of palladium was also reduced. The Scottish banking giant cut its forecast for the metal by 9% from the old estimate. RBS is now expecting an average palladium price of $725 per troy ounce. The metal is currently quoted at $658.
For the other ten metals, forecasts have been lowered by various fractions. Among those in the red zone are aluminium, zinc, lead and nickel. Aluminium was down 5% to $2,200 per tonne, lead was 4% lower to $2,150 per tonne, zinc was 2% lower to $2,050 per tonne and nickel was 9% lower to $1,950 per tonne.
Although RBS cut its growth forecasts for most metals, there was one lucky fighter that the group was optimistic about. It became silver, which forecast was raised on 3 % to level of 33$ for ounce. So far this precious metal is trading at slightly below $30 per troy ounce.
The outlook for one of the metals remained unchanged. It is platinum, which RBS expects to average at $1,650 an ounce in 2012. The metal has so far traded marginally above $1,530.
And why should you advertise your PAMM without any success, tell me the secret please?
I trade and do not open any PAMM, because it is the responsibility for the investors' money)
That's a good point.
Hi all.
Salaam brother Ishim
Salaam brother Ishim
Hi, the correct spelling is "salami!" Happy Victory to all! Happy Holidays!