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MTECHTIPS:-Gold gains as Spanish election results spark new bailout hopes

Gold prices rose on Tuesday after regional election results in Spain rekindled hopes Madrid will request a bailout, which sent the euro rising and the dollar falling, a recipe for rising gold prices.Gold and the dollar normally trade inversely from one another.On the Comex division of the New York Mercantile Exchange, gold futures for December delivery were up 0.15% at USD1,728.95 a troy ounce, up from a session low of USD1,727.95 and down from a high of USD1,730.35 a troy ounce.Gold futures were likely to test support at USD1,718.65 a troy ounce, Monday's low, and resistance at USD1,744.25, Friday's high.Spanish Prime Minister Mariano Rajoy's center-right Popular Party increased its majority presence in the prime minister's home region of Galicia, which investors saw as a sign of support for economic policies needed to request a bailout.Last week, Spanish Prime Minister Mariano Rajoy said his government felt it was under no pressure to seek a bailout, which pushed the euro down and fueled a wait-and-see mode among many investors.With voters apparently supportive of Rajoy's austerity policies, investors went long on the single currency on sentiments the government may be ready to make asking for a financial lifeline official.

MTECHTIPS:-Crude rebounds on bottom fishing after U.S. earnings push down

Crude oil futures rose in Asian trading on Tuesday after investors felt disappointing quarterly earnings reports had pushed the commodity down far enough.Brewing hopes for a Spanish bailout brought in bargain hunters as well.On the New York Mercantile Exchange, light, sweet crude futures for delivery in December traded at USD89.11 a barrel on Tuesday, up 0.52%, off from a session high of USD89.23 and up from an earlier session low of USD89.09.Third-quarter earnings season is underway, and several disappointments have sparked selling, stoking fears that a sluggish global economy will need less fuels and energy to operate.Google, Microsoft, General Electric and McDonald's disappointed some investors last week, while this week, earth mover Caterpillar met expectations but cut its earnings forecast for the second time this year, which sent investors selling oil on fears the global economy continues to battle headwinds.Caterpillar's third-quarter net income hit USD1.7 billion, compared with USD1.14 billion, a year earlier.

MTECHTIPS:-Gold futures lower as Spain concerns push up dollar, Fed in focus

Gold futures were lower during European morning trade on Tuesday, re-approaching a six-week low hit in the previous session as the U.S. dollar pushed higher after Moodys lowered credit ratings on five Spanish regions.Investors are also awaiting the outcome of the Federal Reserve's two-day policy meeting on Wednesday.On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at USD1,719.35 a troy ounce during European morning trade, shedding 0.4%.Prices fell by as much as 0.5% earlier in the session to trade at a daily low of USD1,717.75 a troy ounce. On Monday, gold prices touched USD1,713.30 a troy ounce, the cheapest level since September 7.Gold prices were likely to find support at USD1,688.85 a troy ounce, the low from September 7 and resistance at USD1,754.95, the high from October 17.Market sentiment deteriorated after ratings agency Moodys cut the credit ratings of Catalonia and four other Spanish regions late Monday, citing their worsening liquidity positions and predicting that these regions are likely to ask the central government for aid in 2013.The downgrade comes on the heels of regional elections in Spain. Prime Minister Mariano Rajoys center-right Popular Party increased its majority in his home region of Galicia on Sunday, removing a possible obstacle to formally requesting financial aid from Spains euro zone partners.

MTECHTIPS:-MCX Gold tracks global cues; slides as US economy positive

With Gold on the Comex registering a slump in electronic trading,India gold on the MCX too has come down. As the sessions opened gold prices are trading a tad low at Rs.31011, a loss of 0.18% five minutes into the trade.Gold on the Comex is at $1725.65, a loss of 0.04% or of 0.65 dollars.Today, the FOMC of the US Federal Reserve is set to meet and the US economy having struck a positive note, investors are wary of investing in gold. Silver prices too dropped.The QE3 initiative launched by US Federal Reserve has been tied to the performance of US laour markets. Even as they nevertheless see the possibility of firepower getting halved, atleast.Commodities across the board gets boosted as initiatives like QE are announced. The QE2 witnessed $600 bn getting injected into the US economy in 2011.

MTECHTIPS:-Gold in wait and see mode ahead of FOMC

Gold is near steady to modestly higher in early activity as the market seemingly enters a wait and see period with the Federal Open Market Committee meeting Tuesday and Wednesday, said George Gero, vice president and precious-metals strategist with RBC Capital Markets Global Futures.The December futures initially extended Fridays correction lower overnight, bottoming at $1,714.40 an ounce, their lowest level since Sept. 7, before finding some footing.Wait and see prevails as two-day Fed meeting starts on Tuesday. Traders are carefully looking at headlines, looking for inflationary signs and re-examining sell stops and buy stops, they added.The key chart areas are now $1,710 on the downside and $1,750 on the upside, Gero concluded.December gold last traded up $2.20 at $1,726.20 an ounce on the Comex division of the New York Mercantile Exchange. Spot gold was last quoted up $4.80 at $1,725.75.

MTECHTIPS:-Keystone, investor rethinking brings global Crude Oil back to life

Crude oil prices have snapped a three-day declining trend as reports came in suggesting that the Keystone pipeline connecting Alberta and Illinois may take another month to operate in a full fledged way.The invetsor community also felt that the current dips in market prices of crude oil could be a bit overdone; it has been a dramatic decline according to many.Yesterday, the November contract dropped as much as 1.5% to $88.73, the lowest close since Oct. 3. Prices are down 9.5 percent this year, as per Bloomberg data. December Brent was 6 cents lower at $109.38 a barrel on ICE Futures Europe, London subsequent to the contract losing 70 cents to finally arrive at $109.44 yesterday.On the NYMEX, crude oil for December delivery is trading high by 0.21% at $88.84 compared to yesterday's close even as Brent crude witnessed wild swings in prices.Meanwhile the Keystone pipeline after being closed for treating anomalies have begun operations yesterday. The pipeline has a capacity of pumping 590,000 barrel-a-day of crude oil.

MTECHTIPS:-India's food distribution system to be computerised end-toend

In a bid to make the Targeted Public Distribution System (TPDS) much more effective, the India government has planned end-to-end Computerization of the system to make its reach more effective and beneficiaries friendly with an outlay of Rs. 884.07 crore.This plan consists of Digitization of rations cards/beneficiary and other databases, Computerization of Supply-Chain Management, setting up of Transparency Portal and Grievance Redressal Mechanisms.Digitisation of beneficiary database and computerization of supply-chain are expected to be implemented by March, 2013 and October, 2013 respectively which would help in weeding out the bogus ration cards and better targeting of subsidies.With computerization of supply-chain, the movement of foodgrains upto FPS level can be tracked and the problem of leakage and diversion can be addressed.Facilities of SMS, e-mails, toll free numbers will be used to inform the beneficiary about the availability of the TPDS supplies in the Fair Price Shop, which will ensure timely and transparent distribution of foodgrains to beneficiaries as per their entitlement.

MTECHTIPS:-If Guar party is round the corner, can a Gold party be far?
How healthy is Indian democracy which produces political parties the way America consumes Hamburgers? One or the other parties sprouts every week in every nook and corner of the country, especially during election time. Some are built on ideology, some on individual money power and a few on caste and a majority on nothing.Since last many years, Indias economy has got derailed because of policy paralysis. And this paralysis is nothing but sacrifice of national cause in the altar of regional chauvinism. Regional parties are born to make hay while the sun in still shining. They believe national parties like Congress or BJP cant provide political alternative regionally. The same way as a television channel thinks of covering the entire country by covering Delhi, the regional parties believe even the politicians also harbor the same misfortune of spending their time in Delhi and not for the welfare of the people who voted them.A section of people believe this is a good trend as it addresses local issues more. The recent formation of a party - Zamindara party- by Guar gum traders in Sriganganagar in Rajasthan is a classic example of how affordable people can form a party by themselves. Its so easy.