Aboutme.SubinFinance - United States Will Increase Interest Rate This Year

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UNITED STATES WILL INCREASE INTEREST RATE THIS YEAR

Gold Lost Its Shine as USA Dollar Will Appreciate:-

Gold Lost Its Shine As USA Dollar Will Appreciate

Gold gave up initial gain after Federal Reserve Chair Janet Yellen said that they’re going to increase the interest rate this current year. The only point she said is though they’re planning to increase the interest rate but the only concern is the labor market which seems very weak. But they anticipate at least one rate hike will be there. Fed Reserve is having 4 remaining meetings in 2015.

Spot Gold was up 0/1%, and now it has reached a low at $1,146.75. United States delivery of Gold reached a low of $1,159 an Ounce. When this news came, United States Dollar started appreciating against all baskets of currencies. Due to Greece Crisis, Gold started appreciating, but now the picture seems comfortable that Greece has come-up with payment plans and is discussing with European Union. But physical Gold seems in demand as Chinese people started buying as Chinese Equity market started decelerating whereas in India the people have seems to delay the purchase. In India Gold is selling at a discount to global benchmark now.

Chinese Economy Crisis In Control:

Chinese Economy Crisis In Control

Chinese Authorities banned shareholders from selling large stakes to stem a rout where the market has fallen about 30%. International Monetary Fund [IMF] has predicted that the global growth estimation this year is considered to be 3.3% as compared with the given target of 3.5% due to weakness in United States market.

Silver is having a good movement because it was down much and up to 0.9% at $15.51/ounce, Palladium rose 1.5% to $647.22/ounce and Platinum gained to $1025.25/Ounce, rebounding from 6 ½ years low to hit the $ 1000 mark.

European Union and Greece To End Crisis:

European Union & Greece To End Crisis

Athens [Greece]:
84% of the people of Greece want to keep the Euro with them, an opinion poll released on Friday and just 12% prefer the return to the drachma as country is suffering cash crunch Crisis due to non-payment of IMF loan. Referendum has come up with the result of “No” vote for austerity measures last week. Syriza party has increased the lead with 45.6% from 36.3% last January Election, supporting Prime Minister Alexis Tsiparis Reforms, against the leftist party.

Alexis Tsiparis Greek PM is backing tough reform package for trying to save the country from meltdown of finance. European Union Meeting is preparing a deal package to keep Greece in the Euro Zone. Greece wants to stay in the Euro Zone and was getting tougher competition from leftist party. More preferred to come back to Drachma Currency, better than swallowing the austerity measures and no write-off debt for them.

Germany who had contributed Greece with more bail-outs was in a worrying position. Finance Ministry ruled out any debt restructuring which will lower its real value. Other contributors like France rushed to offer more concessions as they’re also a contributor to Greece about Euro 46 Billion. French President Hollande is serious about providing Greece more support and wants to offer better deal to Greece people. Now Europe has to take major decision to keep Greece with them or else they will disintegrate themselves. Portuguese, Italian and Spanish bonds decelerate as the market risks getting lower and lower. Germany is still in skeptic mood as Greece hardening attitudes towards its Euro partners.

Now the 19 members will be having a brief meeting and decide a third bail-out package to keep Greece Financial Crisis at bay. Apart from that some debt relief is in the agenda too. Actually providing debt is not the solution, but measures must be there to keep the Greece economy growing as it has been decelerated more than 25% than last year. Unemployment problem is the deepest problem in the economy. Estonia, Lithuania is proposing to take economics out with new proposals to keep Greece economy moving ahead.

Greece Austerity Measures:-

The latest Austerity offering will be cut in defense, some state assets must be privatized like ports and airports, increase in value added tax, additional tax for hotels and restaurants and pensioner will get pension without any top-up which seems reasonable for now. Greece has no-option but to accept the deal to bring the economy back to rail. Greece banks must be opened now as they remained closed from June 29 onwards. Two bailouts worth Euro 240 Billion were offered from the European Banks and IMF since 2010.

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