Monday, August 3, 1998
Call rate benchmarks seek acceptability
Two months after Bloomberg became the third company -- following Reuters and the National Stock Exchange -- to launch Mibor (the Mumbai Inter-Bank Offered Rate), the debt market is yet to exploit the new benchmark to its full potential.
Gold prices are likely to firm up
Gold is expected to regain a portion of its past glory. Gold prices are expected to firm up in the medium term, at least. The argument in favour of higher prices is simple. Almost everything which was negative for the gold prices has taken place and for the past six months, the international prices have kept themselves above the 18-year low of $278 per ounce.
Base metals will remain bearish, says EIU
Aluminium prices on the London Metal Exchange (LME) will fall in 1998 and 1999 as oversupply swells stocks, according to UK's Economist Intelligence Unit's latest report. The EIU said aluminium production would exceed consumption in the immediate future, leading to an increase in stocks during the remainder of 1998.
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