Presidential election year politics will disrupt markets, leading to a strong year for physical gold and rare coins in 2016, and a drop in the Dow Jones stock market average, predicts Michael Fuljenz, an award-winning precious metals and numismatic writer and President of Universal Coin & Bullion in Beaumont, Texas (www.UniversalCoin.com).
Gold Silver Reports – Ahead of the New Year, Agri markets managed to stage a bounce back even as trading activities remained low in the mandis.
Traders anticipate the new year to bring in some positive sentiments for the Agri counters with recovery expected from these low levels.
Gold Silver Reports – The gold exchange traded funds can now invest in India’s Gold Monetisation Scheme(GMS). The Securities and Exchange Board of India (SEBI) has issued a circular giving approval for this.
As per the latest SEBI circular, the cumulative investment by Gold ETF in GDS and GMS will not exceed 20% of total AUM of such schemes.
Gold Silver Reports – U.S. stocks closed out the final trading day of 2015 with both the Dow and S&P 500 suffering their first year of negative returns since 2008 when the financial crisis was in full swing. Both benchmarks were on the verge of a positive year at the start of today’s trading session, with the Dow needing a sizable, 219-point gain to hit break even. However, it wasn’t meant to be today, as all three major indexes fell about 1% or more and closed at their lows. The Nasdaq reigned supreme for 2015, posting final annual gains of 5.7%, while the S&P 500 and Dow ended the year down about 1%. Oil was by far the biggest loser this year, with the price of U.S. Crude dropping a whopping 30.5%. – Neal Bhai Reports
Gold Silver Reports – A fire engulfed a luxury hotel in downtown Dubai close to the Burj Khalifa tower where thousands of people gathered for a New Year’s Eve fireworks display.
Authorities evacuated all guests out of the Address Downtown Dubai hotel, Civil Defense official Rashid al-Matroushi told al-Arabiya television late on Thursday. Fifteen people sustained light to moderate injuries, while one person suffered a heart attack, according to the Dubai media office. A fireworks show continued as scheduled at about midnight, meters away from where the hotel fire was still going but appeared to be losing intensity.