Embed Size (px)
DESCRIPTION
The first issue of October 2012 of Dreams & Money
Citation preview
1 OCTOBER 2012WEEKLY
Toronto and Global Market Review
2 2
Pricing Your Home
Gold on its Way to Correction ?
2 4
5
3
Yoga - A Basic Overview5
&
She has been practising the ancient discipline since the late 1940s and looks about 25 years younger than she is.
"Yoga's wonderful for your body, and it's also wonderful for the interior. You can be so quiet and peaceful as you exercise," Herbert says.
Herbert attributes her good health and generally happy attitude largely to
TORONTO - Ida Herbert stands her years of practising yoga.with her feet wide apart, takes a deep Herbert rises at 5:30 a.m. to perform breath, and bends her body to one side to her poses and says her day isn't quite the touch her left foot, settling into a same if she forgoes her routine.triangle pose. "I wouldn't be without it. If I do my
Herbert is 96 and she now holds the sun salutations, and I do two or three of Guinness World Record as the world's those in the morning, I feel so much oldest yoga teacher. better. I go into the kitchen and get my
* In
dep
end
entl
y o
wn
ed a
nd
op
erat
ed
Email : [email protected]: www.dreamsandmoney.com
416.473.6100Sales Representative
INNOVATIVE REALTY INC.Brokerage*
Your Home
Thinking of Selling ... Ask for PERRII’s
PERRII MUTHURAMAN MBA PFP CCP
416 473 6100 416 298 8383Direct Office
Dreams Fulfiller
Free Market Evaluation
®Gta Realtorsmid-month
Resale Figures
www.dreamsandmoney.com
Dream Issue2 175
Ida Herbert, 96, world's oldest yoga teacher teaches in Toronto
breakfast and I don't give a hoot," she says with a laugh.
Herbert got started practising yoga when she was at a health club in Toronto. One of the women who worked there taught her the poses — and that got her hooked.
"That started me going on the physical part, and once I acquired the physical part, I learned what I could do inside." she says. "Keep my mind quiet, and my heart would slow down, my pulse would slow down, too, and there was a genuine quietness inside and peacefulness outside.".
"And I'm the oldest one there, of course," she says, adding she doesn't plan to stop teaching after doing it for about 30 years.
“It's very complimentary to know that you can get into the book of records," she says. "It certainly is."
Herbert currently teaches yoga at
Bayshore Village, near Orillia, Ont., instructing, “women ranging in age from their 50s up to their 80s.
(Source: THE CANADIAN PRESS)
PAGES
Banks and other financial institu- describes how the system worked.tions have for years vetted potential "For example, if someone is attempt-customers applying for mortgages, ing to mask their identity by using the loans and credit cards through credit- SIN of a deceased person, this would be checking services. Since 2010 the CRA flagged by the IWS products and a i s a l so us ing c red i t -checking warning message would be generated to servicesbut for a different purpose; that prompt further review," says the heavily is, to flush out some of estimated $35 blacked-out report.billion that remains untaxed in the "The warning messages are generic, underground economy. such as 'Applicant's SIN is reported as
T h e s o - c a l l e d misused. ' Additional In terac t ive Warning personal information is System project, or IWS, not provided with the focused on miss ing warning."GST/HST revenue and Equifax 's system, was slated to run for two called SafeScan, might years. But the results were also flag a file if the postal encouraging enough that code and te lephone it was ended in 2011 after number were inconsis-just 12 months. tent.
The money turned up The Canada Agency after 439 firms were Revenue used SafeScan targeted by running their tax- to target 439 firms for a GST/HST audit. registration information through a Each audit uncovered an average of commercial credit-screening service $6,800 in missing tax revenue. Brideau from Equifax Canada Ltd. says no charges were laid.
Internal documents outlining the Quebec was excluded from the project were obtained by The Canadian project because federal GST there is Press under the Access to Information collected by the provincial tax agency Act. on behalf of Ottawa.
Documents show the agency The agency completed a so-called eventually wants to catch income-tax privacy impact assessment, or PIA, in cheats and people improperly receiving late 2007 to demonstrate the project government benefits by using credit would not put personal information at checks. risk.
IWS is a financial-industry term for a The assessment noted that "at no system that identifies problems with time will the interactive warning system names, addresses, social insurance database interact with the CRA's numbers (or SINs), telephone numbers databases," and said access to the and dates of birth that suggest possible information would be limited to a few fraud. The system automatically flags authorized individuals.high-risk credit applications.
Privacy commissioner Jennifer The agency's final report on the Stoddart pressed the agency to use only
project, dated September last year, one credit-service provider
Credit Checks to find Missing Millions in GST/HST
New language rules for immigration and citizenshipIn July 2012, Jason Kenney, FSWP assessment criteria so that they
Canada's immigration minister sus- would favour younger applicants.pended the Federal Skilled Worker Would-be Canadians will also be Program (FSWP). required to submit tangible proof of how
He said that it would be closed until well they speak English or French January 2013 at least. In August 2012, beginning this November.after a review period, CIC announced There are three ways to prove their changes to the FSWP. CIC has now proficiency.issued an explanation of the changes. In Applicants will have to submit its explanatory note placed on its results of a government-approved third-website, CIC said that it had identified party language test, show they've three main problems with the old system finished high school or post-secondary that it believes that it has rectified. education in English or French or prove
Ÿ After finding that FSWP applicants they've received an appropriate level of who did not speak either English or language education via government-French (the two official languages of funded training programs.Canada), performed less well in the economy, CIC has introduced a require-ment that only applicants who prove proficiency in one or both of those languages will be accepted under the program.
Ÿ After finding that Canadian employers were not able to assess the
Knowledge of French or English has merit of foreign qualifications held by
been a requirement to obtain citizenship FSWP immigrants, CIC has introduced
since 1977, but Immigration Minister a scheme whereby those qualifications
Jason Kenney had sought to find an must be assessed by an independent
objective way to prove proficiency.assessor. This assessor will compare the
It used to be assessed as part of the worth of the foreign qualification with general citizenship test and related an equivalent Canadian qualification interview.allowing employers to assess their
That will still be part of the criteria suitability for any position more but before would-be citizens even get to accurately.that step, they'll have to submit the Ÿ After finding that older FSWP evidence as part of their overall applica-immigrants settled into the workforce tion. The changes come into effect as of less well, worked for fewer years and November 1.retired sooner, CIC decided to alter the
News & ViewsDigest
>>Cont. Pg.2
2
23 SEPTEMBER 2012MONEYDREAMS & Insure your dreams
Be a part of the fastest growing Century 21 Brokerage... REAL ESTATE CAREER NIGHTINTERESTED IN REAL ESTATE CAREER?
Come and Learn:s How to become a Real Estate Agents How to earn 6 figure salarys How to flexible & rewarding Real Estate career is
When:
Where:
to Register Call 416-298-8383
Coming Soon:Real Estate Class
Phase I, Phase II & Phase III
Twice a Month7.00 to 9.00 p.m.
2250 Markham Road, Unit #3(Markham & Finch)
Please Call to arrange an appointment at416 559 1880 or 416 298 8383
Owned and Managed by
Sameem Mohamed, BASc, P.Eng.Broker of Record / Owner2250 Markham Road, Unit #3, Toronto ON M1B 2W4 (Markham & Finch, Behind Mcdonalds)
Innovative Realty Inc.INDEPENDENTLY OWNED AND OPERATED Brokerage
Your Path to Success: Earn more... and Keep more...
Hiring New and Experienced Real Estate Agents.
Over 70 agents have joined already!
s Internationally recognized brand name.s Free Personal website and emails Brand new state of the art facility with innovative technology.s Professional work environment with friendly & experienced support staff.s Open 7 days a week, 24 hours access to office and 24 hours professional call answer service.s In-House & Century 21 Weekly/Monthly Trainings Custom tailored commission split plan to suite your needs Main floor office, plenty of parkings Conveniently located between HWY 401 & HWY 407
Why you should join Century 21 Innovative Realty?
On September 21, 2012, Statistics economy is that industries traditionally Canada (STC) released new under- considered to be involved in the UE
one of the highest rates of compliance in an increase of 77% from 1992, whereas ground economy (UE) estimates for activity did not grow as fast as the the world. nominal GDP grew by 118% over that Canada from 1992 to 2009. The Canada overall economy, or as fast as other
same period. This estimate of under-These findings are not estimates of Revenue Agency (CRA) commissioned industries less impacted by the UE.ground economic activity was equiva-the total amount of taxes that are not these estimates as part of its ongoing UE activity may be found in any lent to 2.3% of GDP in 2009, down from reported and paid, commonly referred to efforts to increase knowledge about the industry. However, the three most 2.9% in 1992.as the “tax gap.” The purpose of this UE. These revised and updated esti- significant industry sectors in terms of
study was not to quantify related tax The main reason for the slower mates provide more recent and UE activity in 2009 were construction losses, but to provide information on the growth of the UE compared to the total improved information on trends in UE (29%), retail trade (20%), and accom-overall UE trend in relation to Canada's activities for different industry sectors modation and food services (12%). gross domestic product (GDP), as well of the Canadian economy. Along with These industry sectors accounted for as the trends for specific industry many other tools, this information will 61% of the total UE estimate.sectors of the economy that are more at help the CRA to better understand the The resulting analysis by CRA will risk for UE.size and nature of the UE, and to refine support the development of targeted
its focus and activities to combat the In 2009, total underground activity strategies to enhance compliance with UE. It should be noted that Canada has in Canada was estimated at $35 billion, Canada's tax laws.
CHINA
EUROPE
JAPAN
drop in January to July, according to data released on Thursday by the In mainland China, the National Bureau of Statistics. Industrial Shanghai Composite Index companies' profits were 3.06 trillion reversed a drop and fresh yuan ($480 billion) in the eight month multiyear low to rise 0.3%, but com- expected amid headwinds from over-period. The survey tracked companies modity-related stocks were under seas, and could possibly move into a with annual income from major busi-pressure on fears of Chinese growth. recession. Japanese industrial produc-nesses of at least 20 million yuan. China's central bank on Tuesday added a tion fell a steeper-than-expected 1.3% in
record 290 billion yuan ($46 billion) to Fitch Ratings on Friday lowered its August from a month earlier, the fourth the financial system using reverse 2012 growth target for China to 7.8% fall in the last five months. The core repurchase agreements, seeking to from 8% and said it does not expect a consumer price index was down 0.3% in address a cash squeeze ahead of the hard landing as authorities have the August from a year earlier, the fourth week-long Golden Week holiday scope to use fiscal and monetary straight month of decline, as deflation-running from September 30 to October policies to ward off a harsh downturn. ary pressures continued to act as a drag 7. The ratings agency acknowledged that on the economy.
slowing exports were dampening The People's Bank of China made a China's growth, but said the cooling record injection of liquidity into the G r e e k o f f i c i a l s o n underway was also a product of the Chinese banking system this week. The Monday reportedly rebutted central government's effort to squeeze Chinese central bank put a net 365 reports that the country consumer and house price inflation out billion yuan ($57.9 billion) into the would not qualify for further help until it of the system. financial system via open-market closes a budget shortfall of 20 billion
operations, the reports said. The move euros. was made as the third quarter draws to a Weak economic data The Ifo index, a gauge of German close and ahead of holidays in China. released by the government business confidence, declined more
China industrial companies' profits on Friday, 28 September than forecast in September. The contracted 3.1% in January to August 2012, showed that the Japanese econ- Munich-based institute recorded a from a year earlier, compared to a 2.7% omy may be slowing more than reading of 101.4 for the month against a
forecast of 102.3. The Ifo expectations part of the index, which tracks outlooks by German business managers for the next six months, hit 93.2 in September versus a reading of 94. 2 for the month of August.
S e c r e t a r y G e n e r a l o f t h e Organization for Economic Co-operation and Development said that Spain and Italy are "doing all they need to do" to improve their economies and appear to be a victim of profit-seeking markets.
Construction, Retail Trade 61 % of the UndergroundEconomy in Canada, says Statistics Canada Study
and Accommodation and Food Services Account for
Global Indian Market and Weekly Review - Week Ended 28 September 2012
Credit checks to find...
From Pg.1
to further reduce risks to privacy. The other major provider in Canada is Trans Union of Canada Inc.
The internal report shows the project cost $2.4 million, mostly salaries, to uncover about $3 million in missing GST/HST revenue, for a net gain of less than $600,000 — a relatively poor return compared with other CRA programs.
M.Shekar
>>Cont. Pg.2
Summary of TorontoMLS Sales and Average Price
September 1 -
14
2012 2011
Sales Average Price New Listings Sales Average Price New Listings
City of Toronto ("416") 897 $536,128 3,296 1,167 $463,638 2,933
Rest of GTA ("905") 1,647 $475,359 4,486 1,828 $446,223 3,882
GTA 2,544 $496,786 7,782 2,995 $453,009 6,815
TorontoMLS Sales & Average Price By Home Type
September 1 -
14, 2012
Sales
Average Price
416
905
Total
416
905
Total
Detached 295 975 1,270 $805,308 $563,739 $619,851
Yr./Yr. % Change -20% -7% -10% 17% 6% 9%
Semi-Detached 92 153 245 $603,700 $397,205 $474,746
Yr./Yr. % Change -14% -23% -20% 24% 6% 15%
Townhouse
115
299
414
$406,521
$351,281 $366,625
Yr./Yr. % Change
-3%
-9%
-7%
5%
7%
7%
Condo Apartment
382
176
558
$352,851
$287,467 $332,228
Yr./Yr. % Change -32% -17% -28% 5% -2% 3%
Source: TREB
INNOVATIVE REALTY INC.Brokerage*
Direct 416 473 6100Office 416 298 8383Direct 416 473 6100Office 416 298 8383
$677 K Beautiful Detached Homein a prime, high demand area
$649 K High Demand Locationjust move in; don't miss this
2486 sq ft approx 4 bdrms 3 baths Double Garage 6 pking spcs. Super
potential for basment. walk to school/shops/hospital & more To
seize the opportunity
original owner more than 2500 sqft 4+1 bdrms 5 attached baths Fin
Bsmt with Rec Room delight. pick up the phone
Call:PERRII416 473 6100
Call:PERRII416 473 6100
PERRII MUTHURAMAN MBA PFP CCP
SALES REPRESENTATIVE
www.perrii.comwww.dreamsandmoney.com
$329 K Value for First Time Buyers
$599 K European Eleganceat a Million dollar feel
wow! 3+1 bdrms! 2 baths! Large
eat-in-kitchen Finished bmt. Don't
delay to
1 yr new with warranty built by "Arista" Beautiful & Luxurious
detached home 4+1 bdrms, 3 baths Close toHWY, shps, Restas, parks
& more Hurry &
Call:PERRII416 473 6100
Call: PERRII416 473 6100
Ask me how to earn AIR MILES® reward miles when
you buy or sell a home through me
FREE MARKET EVALUATIONThinking of Selling ... Ask PERRII Thinking of Buying ... Ask PERRII
ABOUT YOUR FINANCING OPTIONS
3
1 OCTOBER 2012MONEYDREAMS & HOUSING MARKETDEBT
TORONTO, September 18, 2012 – G r e a t e r To r o n t o A r e a ( G TA ) REALTORS® reported 2,544 transac-tions through the TorontoMLS system in the first 14 days of September. This result was down by 15 per cent com-pared to the 2,995 sales reported during the same period in 2011.
"The combination of stricter lending guidelines, rising home prices and the added upfront cost associated with the land transfer tax in the City of Toronto
Dreams and Money takes care to present all the information as accurately and efficiently as possible. Any advice or recommendation appearing in the paper is also part of information only. They should not be construed as an expert opinion. Please note that no representation or warranty with respect to the accuracy or the completeness of the information is given. Information always keeps changing. Hence all the information, including advice and recommendations are to be treated as of general nature only. For your specific circumstances, you are always advised to consult an expert before acting on any information.
DISCLAIMER
105-2100 Ellesmere Road,Scarborough, ON, M1H 3B7
Ph: 647 352 4945 | Fax: 647 352 6110Email: [email protected]
www.dreamsandmoney.com
Editor-in-Chief & PublisherPerrii Muthuraman
Direct : 416 473 6100
Editor & Technical AdvisorAishwar Muthuraman
GTA REALTORS®MID-MONTH RESALE FIGURESReveal Declining Sales but Increasing Average Prices
resulted in a slower pace of sales during including condominium apartments the summer of 2012 compared to a year sold in the '416' area code. ago," said Toronto Real Estate Board "Price growth continued to be (TREB) President Ann Hannah. strongest for low-rise home types
The average selling price for sales during the first two weeks of September. during the first two weeks of September This segment of the market has been was $496,786 – representing an annual very tight, with months of inventory rate of increase of more the 9.5 per cent. remaining low from a historic perspec-Average selling prices were up for both tive," said Jason Mercer, TREB's Senior low-rise and high-rise home types, Manager of Market Analysis.
unsolicited articles are welcomeselected ones will be publishedemail : [email protected]
& community news
Copyright © 2010 Dreams and Money, Canada. All Rights Reserved.
At Dreams & Money, we want to help people lead happy lives. We want to help people reach their dreams. A lot of dreams in the world require financial awareness and proper planning to bring to fruition. To get this financial knowledge can be challenging. We realize this, and want to make this process simpler.
We will bring you financial news happening around you that impacts you, along with timeless classics on topics like financial planning, life skills, health etc. to help you grow all around to reach your dreams.
If you are someone who shares this same passion, and think you can contribute to us in any way (writing articles, spreading the message etc.), please let us know. We’ll be happy to hear from you.
THE MISSION
4
1 OCTOBER 2012MONEYDREAMS & INVESTING
“After years of decline, home prices grudgingly slow. America faces a multi-have finally turned a corner. A sustained year period of federal fiscal restraint, and widespread appreciation in home and must eventually deal with its longer-prices could go a long way in boosting term entitlement commitments. Many household wealth, consumption, and U.S. households directly affected by the credit, with obvious implications for the financial crisis and the significant loss overall economy. of personal wealth are likely to continue
to favour paring down debt. And many The Fed expects that rising stock and financial institutions can be expected to home prices will spur household remain more cautious after implement-purchases that will translate into ing more stringent lending criteria.”-- increased business production, hiring This is the general impression today.and a stronger growth profile. Although
we expect that the U.S. will regain National Association of Realtors much-needed economic traction in (NAR) Research also creates the same 2013, the pace of growth could still be impression.
The bidding wars over many parts of Toronto area homes are disappearing. Well, I am not sure whether we're going When the time comes to price your to return to those crazy days, but the home for sale, don’t be tempted to start Multiple Listing Service (MLS) says with the price you paid for it adding the there are signs that the market is cooling profit you wish for. Unfortunately, that down a bit. Home sellers in some strategy won’t work. You have to price neighborhoods are still seeing multiple your home to reflect its true market offers. But it's not a boom; overall, the value, if you really want to sell.latest numbers show fewer sales and
You have to consider your home as a little higher prices than a year ago. In commodity based on the value or worth this market, if you want to sell your of it to a willing buyer. That is, the home yourself, here are some tips to value, or worth of your home is the price your home.amount for which you could sell it today
point out potential problems that could require costly repairs down the road. Consider all these factors also before pricing your home.
on the open market to a willing buyer in If you’re selling it yourself, you can a fair transaction. subtract the standard commission of
Buyers, usually see the sales trend of about 5%. You have done your research similar homes in the neighborhood. So and you think your house would go on before pricing your home, consider the market for $400,000 then subtract sales of similar homes in the last three to the 5% commission of $20, 000 and list six months. Homes that have recently it for $380, 000.
sold that are similar to yours are known So do your homework before pricing as “comps,” or comparables. You can your home. If you are still unsure of how use information about these comps to to price your home or are concerned estimate your home’s worth. about under selling, a professional can
be of great help. Their knowledge and Buyer’s lender may require a home experience may ensure your home is appraisal to determine whether the priced right to sell.house is worth the price the buyer has
Call for a FREE consultation at agreed to pay. In addition, the buyer may is a Realtor with hire a home inspector, likely an engineer
Century 21 Innovative Realty Inc. with experience in doing home surveys Brokerage.in your area. His or her job will be to
PerriiPerrii416 473 6100 .
US Economic Resiliency • Housing bottoming and brewing with animal spirits, which predicts job The big mistake that big investors creationmade in 2010 and 2011 was in believing
that an economy approaching stall • While 45% of S&P profits come speed was one headed toward recession. from abroad, the impact of Euro-China But after two years of sending stocks has been small and the worst was priced-into steep corrections near 20%, they in at S&P 1,300finally realized that corporate earnings • S&P earnings estimates for 2013 were still growing despite a slew of are slowly inching down from above problems: $110 toward $105, and that makes S&P
• 1% GDP 1,450 trade under 14X. Still very attractive!• Debt-ceiling debacle
• Energy sector is in a "sweet spot" • Euro meltdownfeedback loop where booming domestic • China slowdownexploration and production raises
• 8% unemployment supply, keeps prices stable and creates What's the fundamental case for a jobs
US economy that can continue to see • US innovation creates the future - corporate earnings grow? Some themes and tomorrow's profits - from technol-are very persistent, and some are just ogy, biotech and high-tech manufactur-being realized: ing industries to financials, retailing and
• Record low interest rates and energycorporate cash, which make stocks the (Views of Kevin Cook, Zacks.com) place to be
2012 Economic and Housing USAOutlook for the
Source: National Association of Realtors (NAR) Research (Updated on September 27, 2012)
This week investors remained cautious about Spain's troubled banks and global economic frailty. Canada's main stock index jumped almost 1 percent on Thursday, breaking a five-day fall , only to slip again on Friday. Business activity in the U.S. Midwest shrank for the first time in three years.
“China is by far the biggest factor in determining commodity prices. Any news perceived as being positive for the Chinese economy tends to help commodity prices, and therefore the TSX," said Elvis Picardo, a strategist at Global Securities in Vancouver, who has recommended clients buy lagging Canadian commodity stocks for several months.
Market Trend: or ?UPWARD DOWNWARD
Source : Yahoo Finance
TSX Trend From Sep 25, 2012 to Sep 29, 2012
TSX Trend From Year to Till Date
PRICING HOME YOUR By Perrii Muthuraman
5
1 OCTOBER 2012MONEYDREAMS & STORY TIME
Yogaable to entirely shut down sensory input
- A Basic Overview Ÿ : focus-ing the mind on one pointThe word yoga means "union" in the
Indian language Sanskrit. It means the Ÿ : remaining union occurring between the mind, body entirely one-pointed without effort.and spirit. Yoga originated from India. Ÿ
In the West, however, the words : being entirely absorbed in asana (physical postures or poses) and cosmic consciousnessyoga are often used interchangeably. The eight steps represents continu-Asana is only one of the eight "limbs" of ous circular movement and it is not an yoga. upward spiraling movement
Yoga is a spiritual practice but it is Yoga makes the practitioner feel fit not a religion. Yoga does not prescribe and active, invigorates and rejuvenates any method of God worshipping. All it the whole body, and makes the mind does is to help you to know and nurture cool, calm and tranquil. It is a complete thyself. It helps you to have a healthy system. It protects the practitioner from body and peaceful mind. physical and mental illness. The
Following are the eight "limbs" of benefits from yoga are immense and the yoga. benefits can be categorized as physical,
emotional, mental and intellectual Ÿ : being moderate in benefits.diet with pure and clean body, truthful,
non-violent and kind to all The physical benefits consist of making the body free of disease, making Ÿ : modesty, it light and strong. The emotional selfless service, (any type of) prayers benefits consist briefly in being able to and worshipnot be a slave to one's emotions but to Ÿ : different type of remain the witness. Mental benefits postures including sitting motionless for include not to get swayed by the mind. It long hourshelps you to recognize yourself as the
Ÿ : immortal and infinite consciousness.
controlling and regulating breathUltimate self-realization is part of
Ÿ : being intellectual benefit.
Dharana (concentration)
Dhyana (meditation)
Samadhi (absorption, equilib-rium)
Yama (control)
Niyama (Conduct)
Asana (posture)
Pranayama (control of breath)
Pratyahara (withdrawal)
recommended a reform of the London interbank offered rate, or Libor the method by which banks determine interest rates to lend to each other—and said in a review that he will implement a 10-point plan to overhaul the rate, according to media reports. when it updates its projections for the
world economy.
Ratings agency Standard & Poor's on Indian markets traded with volatile Wednesday lowered the sovereign
and end with gains. Sensex vaults rating of the state of South Australia to 7.64% in September as Govtkick starts AA from AA+, citing deterioration in economic reforms. The market fell in the regional government's budget. three out of five trading sessions. Most Standard & Poor's lowered the of the gains were recorded in the last sovereign rating of the state of South trading session of the week on Friday, Australia to AA from AA+, citing 28 September 2012, when the market deterioration in the regional govern-rose on the back of a global rally that ment's budget. was triggered by Spain announcing a
Economic data from the Conference crisis budget for 2013 on Thursday, 27
Board showed US consumer confidence September 2012, based mostly on
jumped to its highest in seven months in spending cuts. Sensex up by 0.05% to
September. Two separate reports 18762.74 and Nifty up by 0.21% to
showed home prices rose for another 5703.30 for the week ended 28
month in July, though the gains were not September 2012.
as strong as the previous month. www.indiafinancebazaar.com |www.ifmaonline.comIn London, Martin Wheatley, head of
the Financial Services Authority,
INDIAN MARKET WEEKLY REVIEW – WEEK ENDED 28 SEPTEMBER 2012
Further details: [email protected]
Ph : +91 9380034431/9962534431
The gold price has dipped to 1736 $ but quickly recovered on Friday to close at 1772 $.
As such, a return to the levels close to the upside boundary of two-week range, increases possibilities of fresh strength and possible attack at key resistance zone at 1790/1800. A break from here also will signal an end of one-year cycle and possibly to open way towards gold’s record highs, above the 1920 historical high.
But it is to be noted that it struggles a bit to cross 1800 $ mark. Failure to break 1800 $ will push down the price. If one wishes to book profit, ( Those
Price in Overbought zone, a consoli- who bought already ) this is the price dation ahead of the 1787/90 peaks you should book profit. ( Around 1790 $ cannot be not ruled out. Last few days of ) Then buying can be seen between 1688 consolidation in price says so. - 1730 $.
In view of this, One would expect a The technical indicator shows the correction from over bought position. buying is currently exhausted slightly.
Up to what level it can correct ? But bear in mind, if the price crosses 1800 $, no stopping from that ! Next See the chart attached. Technically stop will be 1922 $ the previous high.up to 38 %. That price comes at 1688 $.
But can you expect 1688 $ ? Not This is purely my own analysis and necessarily. The correction theory says Investors are advised to do their own it can correct anything between 23 % to analysis before investing.38 %. It means 1730 - 1688 $.
TAKE CARE OF YOUR BODYGold Correction ? on its Way to
by Manivannan
1796.15
1780.85
1771.90
1765.55
1750.70
1735.40
1720.10
1704.80
1689.50
1674.20
1658.90
1643.60
1628.30
1613.00
1597.70
1582.40
1567.10
1551.80
1536.50
1521.65
Global and Indian Market...
GLOBAL
"everything it takes" to defend the euro zone, ECB data showed on Thursday. From Pg.2By contrast, deposits at German banks The Moody's Investors Service had continued their ascent, rising 0.4% to said in August 2012 that its review on 3.17 trillion euro, the highest level on Spain's Baa3 rating would continue record. Deposits at Irish and Italian through the end of September. banks also stabilized
Spain on Thursday announced a Standard & Poor's on Tuesday crisis budget for 2013 based mostly on
slashed its economic growth forecast for spending cuts. Ministry budgets were the debt-laden eurozone for 2012 and slashed by 8.9 percent for next year and 2013 amid no sign of improvement in public sector wages frozen for a third the region's macro-economic indicators. year as Prime Minister Mariano Rajoy The global debt rating agency said it battles to trim one of the euro zone's now expects Eurozone GDP to contract biggest deficits. CristobolMontoro 0.8% this year, down from a 0.7% drop Romero, budget minister, said Spain projected in July. S&P said that it will see a "soft recession in 2013," with expects GDP growth in the euro gross domestic product expected to fall currency area to be flat in 2013 versus its 0.5%. He said the government will meet earlier projection of 0.3% growth. its 2012 budget deficit goal of 6.3% for
European Central Bank executive this year. For 2013, a budget deficit board member JoergAsmussen said that t a rg e t o f 4 . 5 % i s p r e d i c t e d . ECB won't take part in any potential Commenting on the budget, European debt restructuring of Greece. The ECB Union's commissioner for economic would not be able to take part in any and monetary affairs Olli Rehn said the restructuring because this would reforms are clearly targeted at some of constitute state financing, which is the most pressing policy changes. forbiddenConsumers and companies contin-
ued to pull money out of banks in Spain, Greece and Cyprus in August, and even The International Monetary Fund's French banks saw sizeable outflows, Managing Director Christine Lagarde despite a pledge by European Central said on Monday the IMF is set to cut its Bank President Mario Draghi to do forecast for global growth next month
