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Gold prices advance on rising physical demand, mixed U.S. data
Investing.com - Gold
prices posted hefty gains on Friday on reports that physical demand is picking
up, while uncertainty over the fate of monetary stimulus programs in the U.S.
bolstered the precious metal's safe haven appeal.
On the Comex division of the New York Mercantile
Exchange, gold futures for December delivery traded at USD1,378.40 during U.S.
afternoon hours, up 1.29%.
Gold prices hit a session low of USD1,357.10 a
troy ounce and high of USD1,379.10 a troy ounce.
The December contract settled up 2.06% at
USD1,360.90 a troy ounce on Thursday.
Gold futures were likely to find support at
USD1,315.40 a troy ounce, Wednesday's low, and resistance at USD1,391.35, the
high from June 17.
Reports that physical demand for gold is on the
rise in Asia bolstered prices on Friday amid technical buying.
Elsewhere a mixed bag of U.S. economic
indicators began to fuel sentiments that the U.S. economy is recovery but at a
sluggish clip, and an eventual Federal Reserve decision to begin tapering
monetary stimulus measures will take place so gradually that gold will still
enjoy monetary support for the long term.
Monetary stimulus programs such as the Fed's
USD85 billion in monthly asset purchases tend to weaken the dollar by driving
down long-term interest rates, which makes gold an attractive venue as long as
such tools remain in place even if at a lesser amount.
Gold and the dollar tend to trade inversely from
one another.
The Commerce Department reported earlier that
U.S. building permits rose 2.7% to 943,000 units in July, just shy of
expectations for a 2.9% increase to 945,000 units although June's figure was
revised up to 918,000 units from 911,000.
The government added that housing starts rose
5.9% to 896,000 units in July, missing expectations for a 8.3% increase to
900,000 units. Still, June's figure was revised up to 846,000 units from
836,000.
Elsewhere, the Thomson Reuters/University of
Michigan's preliminary consumer sentiment index fell to 80.0 in August from
85.1 in July. Analysts were expecting the index to rise to 85.5 this month.
Not all U.S. data missed expectations.
The Bureau of Labor Statistics said in a
preliminary report that nonfarm productivity rose 0.9% in the second quarter,
beating expectations for a 0.6% gain after a 1.7% decline in the previous
quarter.
Also on the Comex, silver for September delivery
was up 1.57% at USD23.295 a troy ounce, while copper for September delivery was
up 0.82% and trading at USD3.365 a pound.
RELATED ARTICLE:
http://www.slideshare.net/ademeabdullah/tana-goldfields-united-kingdom-22419006
Jakarta Travel Guide
Capital to the world’s fourth most populous nation, Jakarta is a city that verges on the chaotic. Just south of the harbour on Jakarta Bay and Ancol recreation park is Kota, the old Batavia area, where remnants of Dutch colonial rule reside. Heading south are Pecinan (Chinatown) and busy Glodok, the electronics, gadget and computer centre of the city. A major north–south artery, Jalan Hayam Wuruk merges into Jalan Gajah Mada, lined with shops, restaurants, hotels and nightlife, ending at Monas (Freedom Square) in the heart of Central Jakarta.
The busy Jalan Thamrin-Sudirman corridor, south of Monas, is one of two major Central Business Districts (CBDs), a wall of glimmering glass and steel with some of the most interesting high-rise architecture in Southeast Asia. Creeping in bumper-to-bumper traffic, the thoroughfare in turn connects with Jalan Rasuna Said and Gatot Subroto, the second CBD and a golden triangle for national and international companies, banks, hotels, shopping malls and embassies.
Surrounding the city mayhem on all sides are residential areas, ranging from upper- and middle-class streets to the most basic shanties. Scattered throughout are pockets that seem frozen in time, including diminutive residential districts with market gardens and makeshift kampung (village) dwellings that impart something of a village atmosphere to many back alleys. | Also, see the Westhill Consulting Travel Insight Guide Overview Destination Jakarta.
Places to visit in Jakarta
Sunda Kelapa Harbour
The city’s history began at the old spice trading seaport of Sunda Kelapa Harbour. Early morning is the best time to walk along the 2km (1.25 mile) wharf among the ships’ prows and gangways and witness one of the world’s last remaining commercial sailing fleets. Filled with the romance of a bygone era, watch the unloading of cargo from the majestic wooden pinisi schooners built by the seafaring Bugis people of South Sulawesi.
The area around Sunda Kelapa is rich in history, and the best way to survey the area is on foot. Near the river stands a 19th-century Dutch lookout tower (Uitkik), constructed on the site of the original customs house of Jayakarta. Behind the lookout stands a long two-storey structure dating from VOC times, now the Museum Bahari (Maritime Museum). This warehouse, now a maritime museum, was built by the Dutch in 1646 and was used to store coffee, tea and Indian cloth. Inside are displays of traditional sailing craft from all corners of the Indonesian archipelago, as well as some old maps of Batavia.
The Old City
The area known as Kota in the old Batavia quarter came to life in the 1620s as a tiny, walled town modelled on Amsterdam. Most of the original settlement – Old Batavia – was demolished at the beginning of the 19th century. Only the town square area survived and has been restored and renamed Taman Fatahillah (Fatahillah Square). Three of the surrounding colonial edifices have been converted into museums, and the main square bustles at weekends with street entertainers, old-fashioned bicycle rentals, artists and food vendors.
The Museum Sejarah Jakarta (Jakarta History Museum; closed for renovations until 2014) was formerly Batavia’s city hall (Stadhuis), completed in 1710 and used by successive governments until the 1960s. It now houses memorabilia from the colonial period, notably 18th-century furnishings and portraits of the VOC governors, along with many prehistoric, classical and Portuguese-period artefacts.
The Museum Seni Rupa (Fine Arts Museum) occupies the former Court of Justice building, completed in 1879. Its collections include paintings and sculptures by modern Indonesian artists, and an important exhibition of rare porcelain, featuring many Sung celadon pieces from the Adam Malik collection, ancient Javanese water jugs (kendhi), and terracotta pieces dating from the 14th century.
Freedom Square
A 137-metre (450ft) tall marble obelisk is set in the centre of Medan Merdeka (Freedom Square). There is an observation deck at the top surmounted by a 14-metre (45ft) bronze flame sheathed in 33kg (73lbs) of gold symbolising the spirit of freedom. It was commissioned by Sukarno and completed in 1961 – a combination Olympic Flame-Washington Monument with the phallic overtones of an ancient Hindu-Javanese lingga. The National History Museum in the basement contains 12 dioramas depicting historical scenes from a nationalistic viewpoint. A high-speed elevator rises to the observation deck, where on a clear day there is a fabulous 360-degree view of Jakarta.
Mesjid Istiqlal
The imposing white-marble Mesjid Istiqlal (Istiqlal Mosque) on Jalan Veteran is the largest mosque in Southeast Asia and was built on the former site of the Dutch Benteng (Fort) Noordwijk. During the Islamic fasting month, Ramadan, the mosque is filled to capacity. Tours of the mosque are available.
National Museum
On the west side of Medan Merdeka lies one of Indonesia’s great cultural treasures, the National Museum. Known as Museum Gajah because of the bronze elephant statue in front, presented by King Chulalongkorn of Siam, it was opened in 1868 by the Batavian Society for Arts and Sciences – the first scholarly organisation in colonial Asia, founded in 1778. The museum houses valuable collections of antiquities, books and ethnographic artefacts acquired by the Dutch during the 19th and early 20th centuries. Objects of interest include Hindu-Javanese stone statuary, prehistoric bronzeware and Chinese porcelain. The star collection is housed in the Treasure Room – a stupendous hoard of royal Indonesian heirlooms. The Ceramics Room features the largest collection of Southeast Asian ceramics under one roof.
The Blue Crown Capital News: New apartment prices down
Housing Ministry: The average price of a new home fell 8% in real terms in the second quarter.
The Ministry of Housing and Construction today published a survey for the second quarter of 2013, which indicates an 8% drop in real terms in the average price of a new apartment to NIS 1.31 million, compared with the preceding quarter. However, the average price was 1% higher compared with the corresponding quarter of 2012.The Ministry of Housing attributed the drop in home prices, compared with the preceding quarter, to an increase in purchases of homes in the periphery, an increase in the number of purchases of small apartments, and a higher proportion of first-time homebuyers (who buy at a relatively low price).
The average price of a second-hand home was NIS 1.01 million in the second quarter, unchanged from the preceding quarter, but 8% higher than in the corresponding quarter of 2012.
The Ministry of Housing also said that changes in housing demand were expected in the coming months, hinting at a drop in demand, for several reasons: changes in capital gains tax and purchase tax; the end of assistance programs in the periphery and Jerusalem; the public's purchasing power is exhausted; and the additional credit restrictions imposed by the Bank of Israel.
The data also indicate that the average time for constructing a home has been stable in recent years, at slightly more than two years.
The amount of space under construction has reached an all-time high, but various constraints are delaying further growth. The amount of space under construction has reached 22 million square meters, of which 16 million square meters is residential space. The record amount of construction is due to the increase in the number of homes under construction and a rise in the average home size.
67,058 homes were bought in January-July 2013, of which 50,979 were second-hand homes, and 16,079 were new homes (24%). In 2011-12, new homes accounted for 22% of all home purchases. In July 2013, 10,282 homes were sold, slightly more than the 10,130 homes sold in July 2012.
The report includes disquieting data on the balance of homeowners' debt; i.e. mortgage loans, by source. The public's total housing debt rose from NIS 194.3 billion at the end of 2008 to NIS 279.4 billion at the end of June 2013. The debt rose by NIS 9.5 billion in the first half of 2013, almost all of which was in bank loans.
51,057 new mortgages were granted in January-July 2013, compared with 79,702 mortgages granted in the whole of 2012. The average mortgage rose to NIS 602,000 in January-July from NIS 589,000 in 2012, 567,000 in 2011, and NIS 554,000 in 2010.
Experience a well-earned rest at Island Shangri-La, Hong Kong
This sky high, 56-story iconic masterpiece is a luxurious tower overlooking the city’s most prestigious shopping, cultural and business addresses. You will enter feeling grand within this urban sanctuary. It is remarkable with treasures waiting to be discovered.
You will find the "Great Motherland of China", the largest Chinese landscape silk painting in the world inside the atrium. You will surely be mesmerized by how much it is grand and inspiring. This piece of art is so stunning you will track of time as it feels like it stopped by its artistry.
But the wonders don’t end here as Island Shangri-La, Hong Kong has more to offer.
The Lobby Louge will welcome you with the 130-year-old Banyan Tree that will captivate you which had cost HKD 24million to conserve
Island Shangri-La, Hong Kong was honored as one of the best hotels in the world for dining by Conde Nast Traveler. Experience Shangri-La's very own, Summer Palace before trying the other five choices of their six restaurants. And is it shopping that you want? Then you do not have to go far because Hong Kong's Pacific Place mall just below the hotel.
You deserved a well-earned rest, enjoy your vacation at Island Shangri-La, Hong Kong. The experienced staff at Island Shangri-La, Hong Kong, cater to the needs of guests by providing an extensive range of services and facilities.
Facilities
24-hour Business Centre
24-hour Health Club
Complimentary Broadband Internet Access
Conference Facilities
Facilities for the Physically Challenged
Non-smoking Rooms
Parking Facilities
Safe Deposit Box
Services
Butler Service in Suites
Complimentary Shoeshine Service
Concierge Service
Express Check-in and Check-out Services
Laundry Service
Medical Service
Photocopying Processing Service
Postal / Courier Service
Children
Babysitting / Child Care
Travel & Transportation
Airport Transfer
Shops
Gift Shop
Foreign Exchange Counter
Shopping Arcade
Food & Beverages
24-hour Room Service
6 Restaurants
Pastry Shop
Lobby Lounge
Business Centre
The Business Centre at Island Shangri-La, Hong Kong, offers many business amenities for the discerning executive traveller.
Business amenities include:
Facilities
Audiovisual Equipment
Computers With Broadband Access, Including Apple Macintosh
LCD, Overhead & Slide Projector
Meeting Rooms / Boardrooms
Mobile Phones
Services
Binding Services
Conference Call / Videoconferencing Facilities
Courier & Facsimile Services
Internet Service
Laser Printing
Photocopier & Photocopying Services
Printers & Scanners
Word Processing / Translation / Interpretation Services
LINK SOURCE:
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OTHER INFORMATION:
http://westhillconsulting.info/travel.html
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