Gold rises to 2 mth high on Trump policy uncertainty,

 Dollar drop Spot gold rose 0.7 percent, to USD 1,217.81 per ounce by 0303 GMT. It earlier touched a high of USD 1,219.43, the most since November 22. Gold rises to 2 mth high on Trump policy uncertainty,dollar drop Gold prices rose on Monday to the highest in two months as investors sought safer assets amid uncertainty around the economic policies of new US President Donald Trump and as the dollar declined against other major currencies. Spot gold rose 0.7 percent, to USD 1,217.81 per ounce by 0303 GMT. 

It earlier touched a high of USD 1,219.43, the most since November 22. US gold futures were up 1.1 percent, to USD 1,218.20 at 0303 GMT. The dollar index, which measures the greenback against a basket of currencies, fell for a second day by 0.4 percent to 100.310. Donald Trump, who took power as the 45th president of the United States on Friday, pledged to end the "American carnage" of social and economic woes in an inaugural address that was a populist and nationalist rallying cry, prompting investor concern about protectionist trade policies. With the lack of a clear policy direction from Trump, the market movement is a sign that risk aversion is back on the table, OCBC analyst Barnabas Gan said.

 Data from US Commodity Futures Trading Commission (CFTC) on Friday underscored investor's bullish gold views. The CFTC reported that speculators raised their net long positions during the week to Jan. 17 in COMEX gold contracts for the second straight week. Bank of America Merrill Lynch said last week that precious metal funds had their biggest inflow in five months, according to data through to last . Bond funds also notched a fourth consecutive gain over the last week, as investors continued to hedge against the so-called "Trump trades" put on late last year that bet on stronger growth and rising inflation. Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, rose 0.2 percent to 809.15 tonnes on Friday from 807.96 tonnes on Thursday.

 Philadelphia Federal Reserve President Patrick Harker said on Friday he expected three interest rate increases in 2017 if the labour market improves further and inflation moves to the Federal Reserve's 2 percent goal. "Tone set by Trump will likely lead the markets to conclude that Trump’s legislative goals may now be harder to achieve as there will not be much bipartisan goodwill or a INTL FC Stone analyst Edward Meir said. "All this means is that investors could now start to coalesce around the notion that the Fed will stay on hold for longer than expected, which in turn should be constructive for gold." Among other precious metals, silver rose 0.8 percent to USD 17.20. Platinum rose 0.2 percent to USD 982.70. Palladium rose 0.3 percent to USD 789.80. It hit a high of USD 792.90 in the previous session, the most since May 2015. 

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Donald Trump's trade strategy starts with quitting Asia pact 

The White House issued a statement announcing the withdrawal of the 12-nation Trans-Pacific Partnership trade pact; it also said that the US would crack down on those nations which violate trade agreements and harm American workers in the process The new US administration of President Donald Trump said that its trade strategy to protect American jobs would start with withdrawal from the 12-nation Trans-Pacific Partnership (TPP) trade pact. A White House statement issued soon after Trump's inauguration said the United States would also "crack down on those nations that violate trade agreements and harm American workers in the process." The statement said Trump was committed to renegotiating another trade deal, the North American Free Trade Agreement (NAFTA), which was signed in 1994 by the United States, Canada and Mexico. "For too long, Americans have been forced to accept trade deals that put the interests of insiders and the Washington elite over the hard-working men and women of this country," it said. "As a result, blue-collar towns and cities have watched their factories close and good-paying jobs move overseas, while Americans face a mounting trade deficit and a devastated manufacturing base." 

The statement said "tough and fair agreements" on trade could be used to grow the US economy and return millions of jobs to America. "This strategy starts by withdrawing from the Trans-Pacific Partnership and making certain that any new trade deals are in the interests of American workers." If NAFTA partners refused to give American workers a fair deal in a renegotiated agreement, "the President will give notice of the United States’ intent to withdraw from NAFTA," the statement added. The TPP, which the United States signed but has not ratified, had been the main economic pillar of the Obama administration's "pivot" to the Asia-Pacific region in the face of a fast-rising China. Proponents of the pact have expressed concerns that abandoning the project, which took years to negotiate, could further strengthen China's economic hand in the region at the expense of the United States. Australia's position that a change of heart remains possible in the US and that the trade deal can proceed, is unchanged despite the White House statement, Damon Hunt spokesman for the Australian prime minister, told Reuters on Saturday. Trump has criticised China's trade practices and threatened to impose punitive tariffs on Chinese imports. The Chinese government said on Thursday that China and the United States could resolve any trade disputes through talks, while a Chinese newspaper warned that US business could be targets for retaliation in any trade war ushered in by Trump. Trump has sparked worries in Japan and the rest of the Asia-Pacific with his opposition to the TPP and his campaign demands for allies to pay more for their security.

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Donald Trump, Hillary Clinton win pivotal New York primary 


US networks called the race for the Republican frontrunner seconds after the polls closed in the country's fourth most populous state, signaling a crushing victory over his rivals. Manhattan billionaire Donald Trump and former secretary of state Hillary Clinton have won the New York primary, galvanizing their bids to win the Republican and Democratic nominations for the White House. US networks called the race for the Republican frontrunner seconds after the polls closed in the country's fourth most populous state, signaling a crushing victory over his rivals. "I have to say to the people that know me the best -- the people of New York -- when they give us this kind of a vote it's just incredible," the 69-year-old businessman told a victory party at Trump Tower in Manhattan. Trump, whose campaign has appalled the Republican establishment, led on 65.1 percent to 13.7 percent for his evangelical rival Ted Cruz and Ohio Governor John Kasich on 21.2 percent, with nine percent of the vote counted CNN said. He told supporters his campaign was going to "get a lot more delegates than anyone projected even in their wildest imagination."

 Clinton was declared the winner over Vermont Senator Bernie Sanders around 40 minutes after the polls closed. The former first lady and New York senator had 60.5 percent of the vote, against 39.5 percent for Sanders, CNN said based on nearly half of precincts reporting. Clinton had banked on victory in her adopted home state to stall the momentum generated by her self-styled democratic socialist rival and get a needed shot in the arm after losing seven out of the eight previous nominating contests. It was New York's most decisive primary in decades and Trump's victory in the state, which has 95 Republican delegates in play, will bolster his quest to sew up the nomination before party grandees can swing behind another candidate at the convention in July. While New York City is largely Democrat, Republicans in rural areas and fallen manufacturing cities upstate warmed to Trump's populist message, despite his insults towards women, Mexicans and Muslims. A relaxed and confident-looking Clinton, 68, dressed in a colorful tunic, voted earlier yesterday with husband, former president Bill Clinton, in the leafy Chappaqua suburb they call home. "I had a great time going around the city in the last couple of days just seeing a lot of old friends, meeting new people," she said. The three main candidates also claimed New York as home: Trump, who has never lived anywhere else; Clinton, who was twice elected the state's US senator; and Sanders, who was raised in Brooklyn.



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Donald Trump says may seek India's aid on 'unstable' Pak's nukes

 Donald Trump's such a remarks came during a town-hall in Indianapolis in response to a question on how he would deal with countries like Pakistan which has sometimes "double dealt" with the US. Republican presidential front runner Donald Trump today hinted at seeking help from India and others to address the "problem" of what he described as a "semi-unstable" nuclear-armed Pakistan. Donald Trump's such a remarks came during a town-hall in Indianapolis in response to a question on how he would deal with countries like Pakistan which has sometimes "double dealt" with the US. "We've given them (Pakistan) money and they've double dealt us," the interviewer said. "Yes, but the problem with Pakistan, where they have nuclear weapons -- which is a real problem," Trump said. 

"The single biggest problem we have is nuclear weapons, you know, countries with them. And it's not only a country, you have nine countries right now with nuclear weapons. "But Pakistan is semi-unstable. We don't want to see total instability. It's not that much, relatively speaking. We have a little bit of a good relationship. I think I'd try and keep it," said Trump. "It is very much against my grain to say that, but a country -- and that's always the country, I think, you know, we give them money and we help them out, but if we don't, I think that would go on the other side of the ledger and that could really be a disaster," Trump said, without explaining what that disaster would be. "At the same time, if you look at India and some of the others, maybe they'll be helping us out, because we're going to look at it

We have many, many countries that we give a lot of money to and we get absolutely nothing in return and that's going to stop fast," Trump said. Trump's remarks came on a day when lawmakers questioned the rationale of the Obama administration to give billions of dollars in aid to Pakistan without desired results. "Despite giving Pakistan enormous amounts of counter terror assistance over the years, over USD 25 billion since 9/11, terrorist organisations continue to operate with impunity in Pakistan. Pakistan has used terror as a tool of statecraft and terrorist proxy groups for the Pakistani military have carried out fatal attacks inside India," Congressman Matt Salmon said during a Congressional hearing. State Department has request USD 742.2 million in aid to Pakistan for 2016-2017 including USD 472.4 million in civilian assistance and USD 269.8 million in security assistance. "Pakistan is a nation of 180 million people with a history of terrorist activities, roughly 100 nuclear weapons and a very confused body politic," said Congressman Brad Sherman. "We need to offer to Pakistan those weapon systems well-crafted to go after terrorists and not crafted for a war with India," he said 



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Donald Trump sworn in as 45th President of US 

Donald Trump was today sworn in as the 45th president of the United States of America. This was the 58th formal presidential inaugural ceremony since 1789, when US' first president George Washington was inaugurated. | Donald Trump was today sworn in as the 45th President of the United States of America. This was the 58th formal presidential inaugural ceremony since 1789, when US' first president George Washington was inaugurated. Mike Pence was sworn in as the Vice-President. Trump took oath before around 900,000 people outside the domed US Capitol, with US Chief Justice John Roberts presiding. In his Presidential speech, Trump said that while challenges will come, they will get the job done. "January 20, 2017 will be remembered as the day the people became the rulers of this nation," he said.  Trump said: "[this moment] belongs to you, this is your day, this is your celebrations, this United States of America is your country."

 Trump, promising to work together and bring back prosperity, said that till now the country has defended other nations’ borders while refusing to defend its own and have spent trillions of dollars overseas while America’s infrastructure fell into disrepair and decay. Assuring the people, he said that America will never be ignored ever again. He further said that the country will build new roads, bridges, airports, railways “with American hands and American labour.” "We will not fail. Our country will thrive and prosper again," Donald Trump said.  Indian Prime Minister Narendra Modi congratulated the new American president. Traditionally, after the newly elected president has taken the oath and delivered his inaugural address, he is escorted to Statuary Hall in the US Capitol for the inaugural luncheon. As the 20th century progressed, White House luncheons have become elaborate 


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Sensex consolidates, Midcap outperforms; Axis.....!

 HDFC twins fall Benchmark indices remained volatile in morning ahead of corporate earnings and Union Budget that scheduled to be announced on  Globally investors awaited Friday's inauguration of Donald Trump as US president.   indices continued to consolidate. The Sensex was up 30.11 points at 27287.75 and the Nifty gained 3.75 points at 8420.75. About 1213 shares advanced against 966 declining shares on the BSE. Orient Green Power Company shares rallied more than 9 percent intraday. A media report indicated that Infrastructure Leasing and Financial Services (IL&FS) is in advanced talks to merge its wind energy assets with Chennai-based listed Orient Green Power. 

"The boards of IL&FS and Orient are expected to meet soon and discuss a merger proposal which, if cleared, will help the entity to acquire more wind energy assets. The plan is to consolidate and use stock and cash to acquire assets that will help scale up capacity to over 2,000 MW by financial year 2018," a media report said quoting unnamed sources. 10:20 am Railway capex: In its highest-ever capital expenditure, the Railway Ministry is planning a capital outlay of about Rs 1.3 lakh crore and expecting a gross budgetary support of Rs 55,000 crore (GBS) for the fiscal year 2017-18, according t a media report. During the current fiscal the Indian Railways spent only about 54 percent of its planned capital expenditure. The budgetary support this year was at Rs 45,000 crore. Despite this, it is seeking a higher support this year.  The ministry is hopeful of the budgetary support on the back of a unified Union and Railway Budget.  Recently, Railway minister Suresh Prabhu unveiled plans to undertake measures to trim costs significantly and reduce dependence on imported fuel. The plan, named Mission 41k, aims to electrify 24,000 kilometre of railway tracks over a five-year period. 

Buy, sell, hold: 15 stocks that to watch out for your portfolio indices remained volatile in morning ahead of corporate earnings and Union Budget that scheduled to be announced on February 1. Globally investors awaited Friday's inauguration of Donald Trump as US president. The 30-share BSE Sensex was up 2.44 points at 27260.08 and the 50-share NSE Nifty fell 5.50 points to 8411.50 while the broader markets moderately higher on positive breadth. About 1078 shares advanced against 793 declining shares on the exchange. Ensuing fortnight will see meaningful Q3FY17 earnings which remain the key monitorable and likely impact of demonetisation and management commentary will be key to watch out for,

 Dharmesh Kant of Motilal Oswal Securities says. While the individual stock performance is based on Q3 FY17 earnings, he believes overall markets are likely to remain range bound as market will closely watch the Union Budget. Axis Bank fell 1.6 percent ahead of quarterly earnings today. The country's third largest private sector lender's third quarter profit is expected to fall 63.1 percent year-on-year to Rs 801.6 crore and net interest income may grow 9.8 percent to Rs 4,568.5 crore, according to average of estimates of analysts polled HDFC, HDFC Bank, Asian Paints, ICICI Bank and ITC were under pressure while Tata Motors, Reliance Industries, Adani Ports, Infosys and HUL gained. 


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Sensex, Nifty Country's third largest private sector lender 

Axis Bank 's third quarter profit is expected to fall 63.1 percent year-on-year to Rs 801.6 crore, according to average of estimates of analysts polled Net interest income, the difference between interest earned and interest expended, may grow 9.8 percent to Rs 4,568.5 crore in the quarter ended December 2016 compared with Rs 4,162.1 crore in same quarter last year. Key things to watch out for would be asset quality and impact on retail & SME business post demonetisation. Brokerage houses Nomura as well as B&K Securities expect slippages for the quarter at around Rs 4,500 crore. In September quarter, slippages from watchlist were at Rs 7288 crore. Ambit Capital is apprehensive about the likelihood of a sharp surge in markets in the near term. The fears come on the back of under-pressure FII flows and impact of demonetisation playing out, according to  Chief Executive Officer - Institutional Equities, Ambit Capital. Prevailing conditions aren’t conducive for a big rally in the markets in the short term, 

The brokerage house had in November scrapped its FY17 Sensex target of 29500 in view of the government’s demonetisation drive. Ambit Capital’s FY18 Sensex target stands at 29,000. In view of the impact of demonetisation, organised players are gaining market share from the unorganised ones as can be seen from the Q3 earnings of some companies, adding, cash-oriented players have been hit hard.  With the government considering a proposal to implement fat tax on junk food, sources say the Food Safety & Standard Authority of India (FSSAI) is working on defining the term ‘junk food’. Without a proper definition, tax implementation could become challenging for the government. Sources say FSSAI will consider a definition for High Fat, Sugar & Salt (HFFS) foods. It will also look at international standards and classifications while penning down the definition. This is likely to lead to change in labelling of packaged foods as they will have to mention it on their labels. Some clarity from the food regulator is expected in 1-2 months.  Buy, sell, hold: 15 stocks to watch out for your portfolio 


The market is in green with the Sensex up 72.96 points or 0.3 percent at 27330.60. The Nifty is up 19.55 points or 0.2 percent at 8436.55. About 1309 shares have advanced, 949 shares declined, and 287 shares are unchanged. Tata Motors, Reliance, ONGC, ITC and Bharti Airtel are top gainers while HDFC Bank, Axis Bank, M&M and TCS are losers in the Sensex. Gold futures today fell 0.61 percent to Rs 28,615 per 10 grams as participants cut their bets amid a weak global trend. Besides, profit-booking by speculators also weighed on gold prices. Analysts attributed fall in prices to weak trend overseas as the dollar strengthened, reducing appeal of the precious metal as a safe haven and profit-booking by speculators at prevailing levels. 


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