Manufacturing Data Surprises in India, while China and Eurozone see more of trouble
Indian manufacturing jumped the most for the past six months' data while manufacturing data from China is showing decline. Eurozone issues are far from over and this could cause further trouble for countries exporting to European nations.
The UPA government hasn't allowed the oil companies to raise the price of petrol due to upcoming elections. This indeed is a very strange situation. The government considers voters as a really stupid group. They can keep voters comfortable only for few months before elections, and the moment elections are over, the voters should get ready to feel the pain. I am shocked at the narrow vision of Indian politicians, or its short memory of Indian voters, who forgive them for all this.
At least, for the moment, the prices of Gold are lower in the international markets. Once the USD declines compared to Indian currency, Gold prices in India will also come down.
I strongly feel that commodity trading should be stopped in India. The whole system has too many flaws and it makes people lose lot of money as big traders form cartels and run the markets as per their choice. The trading caused price rise for some important commodities and Indian government didn't take action at the right time.
