2. GOLD LOSING OUT TO
DIAMOND
AT INDIAN WEDDINGS
Demand for diamonds picked up significantly due to
increase in gold prices hence shift in preference
towards diamond-studded jewellery
Buying diamonds can be quite tricky due to absence
of hallmarking practice.
Quality check:
If breaks with a hammer then not real.
4Cs analysis — cut, colour, clarity & carat weight.
Lesser the colour, the better is the quality.
3. CONTD…
Diamonds come in various shapes:
Round brilliant (most superior variety)
Marquise
Princess
Pear
Heart
Oval.
Carat weight determines size of the diamond
Diamond prices expected to increase in years to
come.
4. FOOD INFLATION FALLS FOR
THIRD WEEK TO 12.85%
Persistent high prices of food items could lead to ever-
increasing prices.
It stood at 12.85% for week ended October 23, declining
from 13.75% in previous week.
Index for food declined by 0.2%, reflecting an actual
decline of prices.
RBI increased key rates 6 times this year to bring down
inflationary expectations
Central bank expects overall inflation to ease by 5.5% by
fiscal year end.
5. FOREX RESERVES JUMP $2.6
bn TO TOUCH $298 bn
Country’s forex reserves rose $2.6 bn on Oct 29, on
account of revaluation of gold reserves.
They are at $297.96 billion now.
Foreign currency assets comprising dollars, British
pounds & euro, rose $1,399 mn during week.
Value of gold in reserves rose $1,152 mn during
week.
Special drawing rights, or SDRs (reserve currency with
International Monetary Fund) rose $4 mn.
Reserve capital with IMF rose $2 mn.
6. MARKETS EXPECTED TO
MOVE UP FURTHER WITH FII
INFLOWS
Stock markets had spectacular rally last week &
closed at an all-time high level.
Main trigger for market rally- US Federal
Reserve's announcement of USD 600 bn
Will ease in providing boost to US economy.
A sizeable part of this will flow into:
Emerging markets as part of hedge fund
Foreign institutional investor (FII) investments.
Emerging markets expected to remain strong over
medium term.
7. KC CHAKRABARTY, OP BHATT
IN RACE TO SUCCEED BHAVE
7 candidates shortlisted by panel of top bureaucrats to
replace Chandrasekhar Bhave as Sebi chairman:
RBI deputy governor KC Chakrabarty
SBI Chairman OP Bhatt
Corporate affairs secretary- R Bandyopadhyay
Panel headed by Cabinet secretary KM Chandrasekhar,
held a meeting to discuss potential successors to Mr.
Bhave on Tuesday.
Narrowed list from 18 applications received in
response to advertisement seeking candidates to head
market regulator.
