The world is about to find out China’s threshold for pain
Business Insider | October 20, 2014 | Last Updated: Oct 20 2:42 PM ET
Stay laser focused on China for the next 60 hours.
What happens over that time period could significantly shift what happens in that country both economically and politically.
On the economic side, the country will release data on three crucial metrics — GDP, retail sales, and industrial production. This is key in understanding whether the Chinese economy is staying its rough course to normalization, or veering off the rails.
Politically, Communist party leaders are gathering for the Fourth Plenum. In this meeting they’ll discuss the legal future of the country — or, as the party put it, issues related to ‘governing the country according to law.’ Continue Reading
Gold Buying Rebounds in India on Diwali Jewelry Sales
Oct 21, 2014 7:03 AM PT
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| Photographer: Diptendu Dutta/AFP/Getty Images |
Shweta Anand took half a day off work to get a jump on India’s jewelry shopping spree before the Hindu festival of Diwali, and she was looking for bargains.
“The best time to buy is before the shops get crowded,” said Anand, 27, as she eyed trinkets on velvet shelves at a store in Mumbai’s Zaveri Bazaar, India’s biggest jewelry market. “I buy some gold jewelry every Diwali. Last year, I bought earrings. This time, I am getting a chain as prices are lower.” She spent 30,000 rupees ($490) on a necklace.
Even after a two-week rally in bullion, domestic prices remain 7.4 percent lower than a year ago just as sales are set to climb for the festival and wedding season. India is the largest gold buyer after China. The All India Gems & Jewellery Trade Federation said fourth-quarter imports of the metal may jump 75 percent, which Barclays Plc said may support prices.
“The appetite for gold among physical buyers in India seems to have increased,” said Howie Lee, an investment analyst in Singapore for Phillip Futures Pte. “India’s attachment to gold is unlikely to break. This tradition has lasted for centuries. It’s a symbol of wealth or a form of investment, and the precious metal is deeply rooted in worship and culture.” Continue Reading
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