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You are here : Home >> Top Story >> Report      Email  Print   del.icio.us  Digg  newsVine  Feedburner       2008-10-15 15:45:00   India Post to offer gold coins through post offices Commodity Online NEW DELHI : In collaboration with World Gold Council and Reliance Money, The Indian Postal Department on Wednesday announced plans to sell 24 carat gold coins through selected post offices in four states. In the first phase, gold coins in the denomination of half gram, one gram, 5 grams and 8 grams will be sold in over 100 post offices in Delhi, Tamil Nadu, Maharashtra and Gujarat The gold coins will be packed in a sealed cover with the certification from Valcambi, Switzerland India Post said. In the second phase of the project the gold coins will be sold with the India Post logo. Launching the service here, Union minister for communication and IT, A Raja said the service will be extended to rural areas soon. Minister of State for communication and IT Jyotiraditya Scindia also attended the function.   Most Read : Shortage of Gold could push price to $10,000 'Revolution, food riots in America by 2012' Best is yet to come for Gold! Two faces of Gold during market crisis Lone survivor of blasts: Shivraj Patil	Top Stories America is becoming a country of jobless people Rains sour grape growers’ dreams Mumbai terror attack: Peace marches in cities Goldmine to go under hammer in South Africa CME trade sees big fall of 29% Venezuela breaks diamond norms, India slams door India wastes fruits, vegetables worth Rs 33000 crore! DME trades half a million Oman crude futures Shortage of Gold could push price to $10,000 OPEC crude falls to $41.60 a barrel Oil rises near $48 a barrel in Asian trade Turnover in commodity exchanges declines   More >        Market Pulse     Futures trading in Rubber to resume today   Rubber planters and traders in southern state of Kerala are eagerly waiting to see if futures trading in rubber that will resume from today would help lift the prices of the commodity.   Futures in banned commodities to resume today   India's commodity exchanges will resume futures trading in four banned commodities--natural rubber, soybean oil, potatoes and chana--from Thursday after the government lifted a seven-month old ban.   Commodity prices weak despite low Fed rate   Is the Fed close to adding reserves to the banking system? In spite of a low federal funds rate, commodity prices remain weak and the economy continues to contract. More>      Technical Calls     Commodities recap evening of 3rd Dec, 2008   Crude plunged below $47 on back of expectation of rising weekly inventories due later today. OPEC members remained concerned about oversupply in the world oil market and may decide to cut output further at their next meeting in Algeria on Dec. 17.   Flashback - Energy 3rd Dec, 2008   Today, oil prices will take cues from weekly energy inventory data, which will be released at 9.05p.m. As per expectation, data can weigh on oil prices.   Flashback - Base Metals 3rd Dec, 2008   Base metals are taking cues from the equity and currency markets. Also, economic data and releases are indicating a weak economic situation and prices are under pressure. More>      FOREX Reports     Euro area retail sales down   Eurostat reported that retail sales in the Euro area 15 were down .8% in October and down 2.1% from a year ago, weaker than expected.   Dollar rises vs euro in early European trade   The greenback climbed against the euro on Wednesday the day before a widely-expected interest rate cut by the European Central Bank.   Yuan ends higher against dollar   China’s currency, the Yuan ended trading higher against the dollar on Wednesday at 6.8830 on the over-the-counter (OTC) market, up from 6.8870 on Tuesday. More>
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