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MTECHTIPS COMMODITY MARKET NEWS 3

MTECHTIPS:-Gold to monitor Fed comments on economy once US elections are over


Federal Reserve officials have been quiet lately, but may offer more clues on future monetary policy once U.S. elections are out of the way on Tuesday, said Zurich based UBS AG in a commodity snippet.Gold fell on Friday as traders construed a stronger-thanforecast report on non-farm payrolls to mean the sustainable recovery the Fed seeks in the labor market may come sooner than expected. The Fed itself has been quiet, however, ahead of the election, said Edel Tully, UBS precious-metals strategist.She noted that, "Until there is more guidance from the Fed and a better indication of where policymakers' opinions currently stand, the gold QE (quantitative easing) trade is in no-man's land for a while. "Policy guidance may not be too far off: with the U.S. elections concluding this week; more clarity on monetary and fiscal policy should come soon. Fed members' comments in the coming weeks will be important in providing clues as to what we can expect from the Dec. 12 FOMC meeting, she continued.At the same time, the removal of the U.S. elections uncertainty would provide a better indication on fiscal policy and allow investors to anticipate how the U.S. 'fiscal cliff' and debt ceiling debate are likely to play out. All these issues will drive gold's price path for the remainder of the year," Tully concluded.

MTECHTIPS:-'Gold is going up, just how quickly depends on the President'


The above headline is from a Forbes article excerpt which asks who is better for gold, Obama or Romney.Obama is just the man for the job if youre hoping for a significant increase in the gold price, says Jan Skoyles in Forbes quoted by Addison Wiggin.It is a fact that democrats destroy Dollar more than Republicans adding value to gold. Also, second term Presidents are proven to be benefitting gold prices even more during their second innings Skoyles shared in a research note of his. Skoyle is the Research Head of The Real Asset Co., based out of UK On a cumulative basis Republican Presidents have contributed to gold prices: a net increase of 121.27% across their terms in office since Nixon, versus 358.68% for the Democrats.The Presidents who triumph a second term is so generous with their money that they devalue it yet again adding shine to gold, he said. And if a Republican enters the White House, then gold dips in the first year which presents before the investors a buying opportunity.

MTECHTIPS:-India Bioenergy meet to create roadmap for biofuels sector

In an endeavor to create a roadmap for the next five years for innovative technologies and policies for biofuels development in India, the Department of Biotechnology, Govt. of India along with The Energy and Resources Institute(TERI) launched a two day International Summit on Bioenergy: Algae Biofuel & Synthetic Biology 2012 here yesterday.Jaipal Reddy, Minister of Science and Technology & Earth Sciences inaugurated the Summit.During the two day summit, experts and policymakers are aiming to identify the primary tasks that must be undertaken to accelerate the sustainable deployment of biofuels in India.Delivering the inaugural address, Shri. Jaipal Reddy, Minister, Science and Technology and Earth Sciences, opined There is no denying the fact that the country is facing some serious challenges in food and nutrition, healthcare, energy and environment. To meet these mounting challenges, Science and Technology can play a crucial role in developing an instrumental framework both nationally and internationally. Innovation requires institutional framework and adequate human resources, in order to succeed we need to strengthen and redesign to move towards progress in product development .

MTECHTIPS:-ONGC compensation

abandoned

line

seepage:

Farmers

promised

With leakage of oil from an abandoned pipeline of India's oil major ONGC taking its toll on the farmlands in Tamil Nadu, India's Environment Minister Jayanthi Natarajan avowed to compensate the farmers."I think for the next three or four years, they would not be able to take up cultivation, and that loss (inability to take up cultivation) has to be taken care of," she was quoted by The Times of India as saying.She was paying a visit to Keezhavelur and Karunavali villages in Nagapattinam in South Indian State of Tamil Nadu.The pipe line had been laid to transfer crude oil to Narimanam refineries and once it developed cracks, the company abandoned it.The matter, as per the minister, will be taken up by her with petroleum minister Veerappa Moily in a bid to seek adequate compensation for the affected farmers.

MTECHTIPS:-India Gold, Silver tracking global cues; support at 30800 and 58000
The US Presidential elections is sure to keep the market participants in the sidelines and the bullion markets in turn would seek cues from the global arena, especially, the events that would unfold as US Presidential elections and Greek crisis in the Eurozone.MCX Gold and Silver is tracking international market in today's trading session. Yesterday bullion followed USD/INR and today they would follow spot gold and silver. Overall sentiments are looking positive ahead of fresh buying in local market on auspicious occasions like Akshaya Tritiya. she added.Important Support for MCX Gold and silver is at 30800 and 58000 respectively.