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THE TIMES OF INDIA : India's forex reserves jump by $2 billion

MUMBAI: India's foreign exchange (forex) reserves jumped by $2.03 billion to $277.38 billion for the week ended September 20, the biggest weekly gain in nearly two years, on the back of concessional swap facilities offered to banks by the Reserve Bank of India (RBI).

The forex reserve has increased sharply for the second consecutive week. It had jumped by $544.7 million in the previous week.

According to RBI's Weekly Statistical Supplement, the country's foreign currency assets, the biggest component of the forex reserves, increased by $1.97 billion to $249.22 billion for the week ended Sep 20.

The foreign currency assets, expressed in the US dollar term, include the effect of appreciation or depreciation of non-US currencies held in reserve, such as the pound sterling, euro and yen.

Analysts say the concessional swap facilities offered by the RBI to banks was the main reason for such a sharp increase in the forex reserve. The RBI had announced the concessional swap facilities Sep 4, with a view to support the battered rupee.

Under the new facilities, commercial banks can swap dollars raised through foreign currency non-resident deposits and overseas forex loans with RBI at a discount to the market swap rate.

The special drawing rights (SDRs) increased by $38.3 million to $4.42 billion, while reserves with the International Monetary Fund ( IMF) rose by $17.4 million to $2.01 billion.

The value of India's gold reserves remained unchanged at $21.72 billion during the week under review.

Trading the News: European Central Bank Interest Rate Decision
Time of release: 10/02/2013 11:45 GMT, 7:45 EDT

Forbes : Is Hyperinflation Just Around the Corner?

In his parting act, Federal Reserve Chairman Ben Bernanke has decided to continue printing some $85 billion per month (6 percent of GDP per year) and spend those dollars on government bonds and, in the process, keep interest rates low, stimulate investment, and reduce unemployment.

Trouble is, interest rates have generally been rising, investment remains very low, and unemployment remains very high.
read more here http://www.forbes.com/sites/kotlikoff/2013/09/28/is-hyperinflation-just-around-the-corner/

Forbes : Seasons: The 'No Strategy' Strategy

Investment strategy has only recently come into vogue on Wall Street. Once upon a time the major investment houses employed brokers, traders, technicians of various types and even economists, but no strategists per se.

The “market strategist” came to the fore as demand increased among the firms’ clients for a sense of what to do as markets changed tack. They wanted a plan, even if the plan changed often.
read more in Forbes : http://www.forbes.com/sites/mitchelltuchman/2013/09/27/investment-strategy-for-all-seasons-the-no-strategy-strategy/

Forbes : As we approach another financial crisis in Washington, a scene that may be repeated next month, many are wondering whether or not they should be invested in stocks.

Dow Industrials

The SPDR Dow Industrials (DIA) opened below the prior week’s lows, which is not a good sign. It is still the weakest of the major averages. It closed the week on next month’s pivot at $152.28, with further support in the $150-$151 area, which includes the 20-week EMA. The weekly starc- band is considerably lower at $144.73.

The Dow Industrials A/D line has declined steadily over the past seven days and has closed well below its flat WMA.
The daily OBV has dropped below its WMA, while the weekly is still above its WMA. Therefore, the multiple time frame OBV analysis is now mixed and neither confirmed the new price highs.

There is initial resistance now at $153.50-$154 with the daily starc+ band above $155.

Forbes : As we approach another financial crisis in Washington, a scene that may be repeated next month, many are wondering whether or not they should be invested in stocks.

S&P 500

The 20-week EMA, which was tested in August, is now at $165.34, with the weekly starc- band now at $160.23.

The daily on-balance volume (OBV) dropped below its WMA last week and the WMA has now flattened out. It will be important that the OBV moves strongly above its WMA on any rally this week, since it did confirm the recent highs. The OBV has stronger support at line g. The weekly OBV (not shown) is still above its WMA and did confirm the highs.

The daily S&P 500 A/D line closed the week below its WMA after also confirming the post FOMC price highs. It is still above the support from April and June at line h.

The preliminary monthly pivot for October is at $169.02 with daily resistance now at $170.17. A close above this week’s high at $170.65 would be a short-term positive.

Gold Prices Surge amidst the Federal Government Facing a Shutdown Next Week (source - forexminute.com)

Gold Prices Surge amidst the Federal Government Facing a Shutdown Next Week
Gold prices surged and ended up about 1.0 percent on Friday trading. According to investors the surge was due to a possible shutdown of the U.S. government operations next week and the threat of a debt default in mid-October. Spot gold stood 1.14 percent higher at $1,338.95 an ounce by late in the New York session.

The price of $1,338.95 an ounce is just off the one week high set earlier at $1,343.80 an ounce. An increase has also been seen in futures as U.S. gold futures for December delivery were up $14.70 an ounce which is an increase of 1.11 percent, at $1,338.80 an ounce. Silver was also up 0.18 percent at $21.71 an ounce with gold.

Demand of Gold from China

According to the China Gold Association, the country’s gold output was 232.189 tonnes in the first seven months of this year which is an increase of 11.5 percent from the same period of 2012. The association also informed that output in the month of July alone stood at 39.367 tonnes.