Silver Update

Spot silver traded at $19.97 per ounce on Thursday morning, representing an 1.6% gain on the week. Silver tends to be grouped closely with its precious metal partner gold, as they are both used for jewellery and decorative purposes and are considered to be a good store of value. Unlike silver, however, gold is considered to be a safe-haven metal that tends to outperform during periods of uncertainty. As a matter of fact, gold has outperformed silver over the past year amidst worries about the eurozone economy. This explains why the performance of silver has lagged behind gold over the past year. However, silver is now beginning to catch up with gold’s performance, and likely to have entered a phase of outperformance. Silver is becoming increasingly important for its industrial use, a characteristic that gold does not share. Demand for silver is poised to increase as the world moves towards greener technologies and more energy efficient products. The white metal is considered to be the material of choice for solar reflectors and is also the best conductor of electricity, even more than copper. Silver was never used extensively for electrical wiring in the past because it costs relatively more than copper. However, the upgrading of electrical grids across many major cities and the push for more hybrid cars, which require enhanced conductivity, may provide a fundamental boost to silver demand. The metal also has medical applications and is used as a chemical catalyst.




TECHNICALLY HOLDING ABOVE 19.50$ & IF MONDAY CLOSES ABOVE 20.10$ WILL HEAD TOWARDS 20.90-21.50 LEVELS.


KEEP WATCHING.. 


JAI JINENDRA :)

Mahaparva Paryushan & Samvatsari

Mahaparva Paryushan   & Samvatsari

Samvatsari – The day that comes only once a year after much preparations is known as ‘Samvatsari’. This is the day that arrives after the religious period of ‘Samvotsar’. In fact this festival is also called ‘Paryushan’. This period of‘samvotsar’ comes 50 days after and 70 days before the close of the chaturmas period. Sometimes the ‘samvotsar’may vary between 49 days after and 71 days before the close of the ‘chaturmas’ or the four month period.

Samatsavari is the Last day of this festivale & main Day. This day All Jains keep fasting. . On Next day they take breakfast which called as Parna .

Jain strongly believes in forgiving. On the Samatsvari last partikarman all person plead this message within them, & to all other person who are connected with them in past life in any manner. Jaines plead there forgiveness message to all person whom they know and does 'nt matter which sector or cast they belog. The forgiving plead is not limited into present life but also include there all previous life.

GRANTING PARDON OR FORGIVENESS

• The meaning of forgiveness is tolerance.
• To believe that tolerance is one’s responsibility and to oppose the negative forces of animosity is forgiveness.
• Tolerance is to overlook the source of the negative forces of anger.
• Forgiveness is the weapon of the strong willed.

To be able to keep a check on one’s power of destruction is forgiveness. The one who does not know to forgive is considered as lowly. The person who judges others and refuses to grant pardon is himself unpardonable. Strength lies with the one whose heart is full of benevolence. A person who can overlook the shortcomings, lapses and wrong-doings is a source of joy and peace. Great is the man who does not hesitate to ask for pardon for his own mistakes. The harbinger of peace is one who makes an attempt to alleviate the sufferings that have occurred due to his disregard.

I grant forgiveness to all living beings,

All living beings grant me forgiveness.

My friendship is with all living beings,

My enmity is totally nonexistent.

KHAAMEMI SAVVE JEEVA

SAVVE JEEVA KHAMANTU ME

METTI ME SAVVE BHUYESU

VAIRAM MAJHAM NA KENAI

Kshama Veerasya Bhushanam

Micchami Dukkadam

Jai Jinendra ~!

Ahimsa Parmo Dharma :)

Wishing All Love & Happiness :)

Central Banks Rushing For Gold

Russia, India, Saudi Arabia and the Philippines follow Soros and Paulson into the Yellow Metal.

No wonder gold rose to $1,260 an ounce this week before easing. One by one, central banks are amassing major gold positions, proof positive that they want to participate in the world's most glamorous asset class. Think central banks taking investment advice from global hedge funds.

This is probably a unique order in the investment jungle. The major seller, the International Monetary Fund, does not look too sharp. It sold 541,700 ounces of the shiny metal in July alone according to Uncommon Wisdom, an investment service I've been monitoring.

So far in 2010 Russia has increased its gold holdings by 2.8 million ounces, $3.6 billion at current prices. Total holdings by the Putin government total almost $30 billion. Saudi Arabia and the Philippines have disclosed new gold buying in 2010, plus India, Sri Lanka and Mauritius bought gold in 2009.

The World Gold Council seems sure the People's Bank of China also is a major accumulator of gold. It makes sense that some portion of China's $2 trillion in reserves would be held in gold. It is a hedge against global economic uncertainty. For others, it is a substitute for paper money. More recently, it's been a hot investment.

This central bank buying reverses the prevailing trend of the past several decades of central banks selling excess gold to the speculators. Can China not be steadily and secretly taking a massive position? We will try to find out next week from a well-placed Hong Kong source.

Gold is rising in price and will continue to do so because demand is rising far faster than any potential supply to meet it. Mine production has remained flat even as investor demand more than doubled so far in 2010 compared to a year earlier. Exchange-traded funds likeSPDR Gold Shares ( GLD - news - people ) and iShares COMEX Gold Trust ( IAU - news - people ) have exploded 25% higher in the past year, far better than 8% advance for the S&P 500.

It has not been lost on central banks that the dollar has lost 80% of its value against gold since 1999. Just as serious, dollar-denominated stock market indexes have also lost around 80% of their value relative to gold in the past decade. There is unmistakable fear that precious metals may well hold their value or rise in value as paper money gets trounced.

A wealthy precious metals investor recently warned me to move at least some of my investments out of the U.S. to safer havens and to switch dollars into gold and real assets, like other commodity producing properties.

Think about it, the price of gold has gained 12% in the past 30 days, 24% over the last six months and 192% over five years. Does that seem like a fad, a fluke? Sure, gold is volatile. It is back down to $1,245 an ounce from $1,260 two days ago. It backed and filled for some time before rising to new highs in the past decade.

The role of gold is changing. For some it is a hedge against global economic uncertainty. For others it is an alternative to holding paper currency, especially because of doubts sovereign debt levels can be permanently reduced to manageable levels. Gold as a safe haven is a concept driving pension funds, endowments, and family offices, sophisticated investors, to have a portion, say 5% to 15% of their massive portfolios, in some form of gold, be it gold bullion held in a bank safety deposit box, gold mining shares like the Market Vectors Gold Miners ETF ( GDX - news - people ). There's even outright ownership of part or all of a gold mine.

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We'll never hear of it, but I know f or a fact that leading investment banks own for their own account gold mining properties. Investors are looking at publicly traded Russian gold companies that are expected to double their gold production in the next five years, according to Frank Holmes, CEO, U.S. Global Funds.

Safer choices probably are Barrick Gold ( ABX - news -people ) or Newcrest Mining in Australia, which has an 8% weighting in Christopher Wood's long only absolute return portfolio for Asia ex-Japan. Wood, author of the Greed & Fear weekly letter, has been recommending gold since it was $375 an ounce.

My prediction is that further negative equity returns will result in further positive price action in gold.