GOLD MARKET

By Ben Rooney

NEW YORK (CNNMoney.com) -- Gold prices plunged Thursday as the dollar surged against the euro amid concerns about the economic health of certain European nations.

February gold fell $28, or 2.5%, to settle at $1,107.40 an ounce after falling to a low of $1,098 an ounce earlier in the session. The retreat came two weeks after gold settled at an all-time high of $1,218.30 an ounce.

Carlos Sanchez, a precious metals analyst at CPM Group in New York, said the selloff was "definitely attributable to the stronger dollar, and some stop-loss selling."

Dollers jumb to 1.3% against the euro to $1.4346, its highest level since early September. The euro came under pressure after Standard & Poors downgraded Greece's credit rating, raising concerns about the health of other strained euro zone economies like Ireland.

A stronger dollar tends to weigh on the price of gold, since the precious metal is traded in U.S. dollars around the world.

A stronger dollar tends to weigh on the price of gold, since the precious metal is traded in U.S. dollars around the world.

The buck was also supported by a Wednesday statement from the Federal Reserve that said U.S. economic conditions continue to improve, even as the central bank held interest rates near historic lows.

Sanchez said a firm move below $1,100 an ounce could pave the way for a brief retreat toward a range near $1,050 an ounce. However, he expects the weakness to be short lived.

While the dollar has regained ground in recent days, many traders expect gold prices to push higher into next year amid strong investor interest and the outlook for low U.S. interest rates

GOLD

By Syed M. Aslam

From time immemorial, gold has been respected as the best used precious metal not only due to its usage in ornaments but also as a widespread means of investment 'a saving for a rainy day'. No wedding ceremony in Pakistan is complete without gold jewellery which traditionally has become the most expensive item on the dowry list for parents of brides and also for the prospective grooms.

In Pakistan, like many other countries in the region, gold jewellery is more than a thing of beauty, a joy for everyone, particularly the women folks. It is the most credible mean of investment, which offers better returns than fixed deposits. The popular opinion is not unjustified as there has been a tremendous increase in the price of gold over the years.

Pakistan produces one the finest gold jewellery, particularly plain and generally studded, and its hand made designs are second to none in the world. It is also gifted with vast deposits of world class precious and semi-precious stones including rubies from Hunza Valley, pink emerald of Swat, and peridotes from Kohistan.

The gold trade in Pakistan is entirely dependent on imported gold the primary source of which is Dubai. The previous government granted licence to a single importer, 'ARY', for import of gold into the country. The present government has granted licences to two more importers making three companies responsible for all the gold imports into the country. The import of gold is subjected to duty of $ 1 per tola (11.54 grams), which translates into about Rs 4 per gram at current exchange rates.

Attempts to revive Saindak mine in District Chagai in the province of Balochistan, the first large scale metal mining project in Pakistan, has remained fruitless due to heavy capital investment. Repeated attempts to revive the Saindak Copper Gold Project to produce 15,810 tonnes of blister copper annually with gold containment of 1.47 tonnes, were futile due to an extremely uneconomical gold recovery cost. According to Mahmood Choksy, a gold jewellery exporter and also chairman of All Pakistan Gem Merchants and Jewellers Association, the cost to recover gold at Saindak is a staggering $ 400 per ounce, way above the international price of $ 284 per ounce.

According to World Gold Council (WGC), the marketing arm of world gold miners, gold demand in the country increased from 81.8 tonnes in 1997 98.2 tonnes in 1998 depicting a 20 per cent increase. India, the largest consumer of gold in the world, set a new record for the fourth consecutive year in 1997 as total gold demand increased by 11 per cent from 736 tonnes in 1997 to 815 tonnes in 1998.

WGC which started monitoring the gold demand in Pakistan for the first time in 1998, attributed the increased gold demand in Pakistan on the high affinity for gold in rural Pakistan, combined with slump in international prices in the same year, particularly in the third quarter when it touched as low as $ 288 per ounce.

In spite of economic sanctions, imposed on Pakistan after its option to go nuclear, the gold demand in the country remained unaffected in the country, primarily due to traditional belief that this is feasible to investment in gold.

Pakistan is entirely dependent on imported gold for jewellery manufacture and all other purposes. According to Mahmood Choksy, the bulk of gold import— about 40 per cent— is used in jewellery manufacturing while a similar quantity is being smuggled out of the country, mainly to India. The remaining 20 per cent, he added, is held for investment purposes in the form of biscuits. Industrial usage such as liquid gold in the manufacture of crockery and circuit board is negligible. However, jewellers have their own statistics about various statistics in the gold trade including its usage, ratio of new gold as compared to old, and local sales.

Muhammad Saleem, a local jeweller, said that 70 per cent of all gold imported is used by the jewellers, 5 per cent is used by the industry while the rest of the 25 per cent finds its way out of the country illegally.

Similarly, sources in the gold trade do not agree with the ratio between the use of new and old gold. Choksy says it is 40:60, the General Secretary of Hydri Sarrafa and Jewellery Group, Abdul Wahab put the ratio at 65:35 (65 per cent new, 35 per cent old) while another jeweller put the ratio at 70-80 per cent.

Saleem said that the ratio of usage of old and new gold by jewellers depends on the area where an individual shop is located— shops centred around posh areas such as Zaib-un-Nisa Street use comparatively lesser quantity of old Gold as compared to those located in lesser expensive markets. He put the ratio in the Saddar area at 40:60 (40 per cent old, 60 per cent new).

They also disagree with the trends of sales of gold jewellery during the last many years. Choksy said that sales of gold, particularly jewellery, has increased over the years due to an increase in population. His views were shared by Saleem who agreed that sales are ‘OK’ in spite of a substantial increase in the price of gold. Abdul Wahab, however, said that substantial increase in the cost of living and the subsequent decline in purchasing power have affected the sales. However, the ratio of visits by the buyers to the jewellers' shops has not declined but buyers prefer purchasing lighter jewellery.

PAGE faxed a questionnaire to Yousuf Akhtar Hussain, WGC’s manager for Pakistan and Egypt, and received a reply from Dubai. Following is the excerpts of the answers which will help the readers to understand the gold market and trade in Pakistan.

According to Yousuf, his experience indicates that during the last five years, gold consumers' trend has witnessed slow shifting towards lighter jewellery with the exception of areas in the interior, may be. However, he added that there seems a slight preference towards a bit more modern designs and, in general, buyers in Pakistan look for Far Eastern designs usually adapting it to their personal tastes. There is certainly a demand for Indian designs, as per research, conducted by the Council in 1997.

According to Yousuf, plain jewellery is more preferred by Pakistanis and it surpasses the studded jewellery by 65:35 and female buyers out number males by 83 per cent to 17 per cent. In addition, rings and earrings form the bulk of jewellery purchase in Pakistan, both in terms of units and tonnage. Average weight of gold jewellery purchase in the country is ten grams though it is higher in rural areas. While, the jewellery buying in Pakistan is mostly pre-planned, as far as marriages are concerned, with very little impulsive purchase, the good thing is that it is considered as the first option by over 60 per cent of the target audience. For instance, 60 per cent of urban and 63 per cent of rural people prefer to buy solid gold jewellery as compared to 10 per cent and 11 per cent respectively for designer clothes.

While 22 karat gold is used widely in Pakistan, an increase towards 24 karat is visible. In spite of hoardin

DIAMONDS

By Imran Ali

Pearl is a beautiful and precious stone which comes in lovely colors and different shapes. White pices of this gemstone are famous worldwide and some people think that these items exists in only white color. This misconception is because white color of these pieces is the most used color and so is quite popular among people. However, these pieces comes in exquisite colors; black, white, rose pink, silver and golden and different types including cultured, Tahitian, South Sea, Freshwater and Akoya types. Tahitian pieces are also known as ‘black pearls’. This lovely and luminous gemstone when set in different jewellery articles looks truly fascinating. This jewellery is the choice of many women. Girls prefer jewels of this jewelry for their wedding day, anniversaries, engagements and other formal occasions.

This is also a birthstone of the month of June. It symbolizes nobility and being a birthstone they have the power to bring wealth and longevity to its wearer. Thse are also known as ‘nature’s perfect gems’. This word is derived from a Latin word ‘perula’ which means small pearl. There are different mysteries about this gorgeous gemstone; they are sometimes labeled as tears of mermaid and angles. Persians believed that these are formed when a rainbow meets the earth and are also said to be the outcome of the tears of Adam and Eve and are born out of a lake. This gemstone is also used for medical treatment in some areas like ancient Chinese used to swallow this gemstone to cure fever and eye diseases.

To buy real and genuine pieces you should carefully examine them before buying. To avoid buying fake pieces you can check the authenticity of these stones by rubbing two pieces. If they are smooth then they are not real because real pieces are a little grainy and course. Always examine the pieces under proper and natural light to check their size, color, orient and shape. Like any other stone, these need proper care. Never store these gemstones with other hard stones and jewellery. This jewellery is very versatile and can be worn any time; it is ideal for evening wear, for party wear, it can also be worn at work.

These gemstones with an unsurpassed beauty and loveliness come in different shapes. Round shape is the most popular shape and other shapes like hemispherical and oval shapes are also admirable. Cultured pieces are mostly used in pearl articles like trendy and modern designs of rings, pendants, earrings, bracelets and necklaces. Round shaped pieces are the most valuable types of this gemstone.

The fashion of pearl jewellery never becomes outdated so when buying articles don’t compromise on the quality of pieces for a little money. Imitation of these gemstones is also available and is known as ‘faux’. As these gemstones can be very expensive, people go for its imitation. Imitation consists of glass, plastic, or shell beads which are given the look of these gemstones. The imitation ppieces may be as shiny as real ones but that is only a surface glow, however, in real pieces there is an inner glow. The difference between the real and imitation pieces is quite apparent and one cannot get deceived by the fake pieces, easily.

Hope Diamond

The history of the stone which was eventually named the Hope diamond began when the French merchant traveller, Jean Baptiste Tavernier, purchased a 112 3/16-carat diamond. This diamond, which was most likely from the Kollur mine in Golconda, India, was somewhat triangular in shape and crudely cut. Its color was described by Tavernier as a "beautiful violet."

Tavernier sold the diamond to King Louis XIV of France in 1668 with 14 other large diamonds and several smaller ones. In 1673 the stone was recut by Sieur Pitau, the court jeweler, resulting in a 67 1/8-carat stone. In the royal inventories, its color was described as an intense steely-blue and the stone became known as the "Blue Diamond of the Crown," or the "French Blue." It was set in gold and suspended on a neck ribbon which the king wore on ceremonial occasions.

King Louis XV, in 1749, had the stone reset by court jeweler Andre Jacquemin, in a piece of ceremonial jewelry for the Order of the Golden Fleece (Toison D'Or). In 1791, after an attempt by Louis XVI and Marie Antoinette to flee France, the jewels of the French Royal Treasury were turned over to the government. During a week-long looting of the crown jewels in September of 1792, the French Blue diamond was stolen.

In 1812 a deep blue diamond described by John Francillion as weighing 177 grains (4 grains = 1 carat) was documented as being in the possession of London diamond merchant, Daniel Eliason. Strong evidence indicates that the stone was the recut French Blue and the same stone known today as the HopeDiamond. Several references suggest that it was acquired by King George IV of England. At his death, in 1830, the king's debts were so enormous that the blue diamond was likely sold through private channels.

The first reference to the diamond's next owner is found in the 1839 entry of the gem collection catalog of the well-known Henry Philip Hope, the man from whom the diamond takes its name. Unfortunately, the catalog does not reveal where or from whom Hope acquired the diamond or how much he paid for it.

Following the death of Henry Philip Hope in 1839, and after much litigation, the diamond passed to his nephew Henry Thomas Hope and ultimately to the nephew's grandson Lord Francis Hope. In 1901 Lord Francis Hope obtained permission from the Court of Chancery and his sisters to sell the stone to help pay off his debts. It was sold to a London dealer who quickly sold it to Joseph Frankels and Sons of New York City, who retained the stone in New York until they, in turn, needed cash. The diamond was next sold to Selim Habib who put it up for auction in Paris in 1909. It did not sell at the auction but was sold soon after to C.H. Rosenau and then resold to Pierre Cartier that same year.

In 1910 the Hope diamond was shown to Mrs. Evalyn Walsh McLean, of Washington D.C., at Cartier's in Paris, but she did not like the setting. Cartier had the diamond reset and took it to the U.S. where he left it with Mrs. McLean for a weekend. This strategy was successful. The sale was made in 1911 with the diamond mounted as a headpiece on a three-tiered circlet of large white diamonds. Sometime later it became the pendant on a diamond necklace as we know it today. Mrs. McLean's flamboyant ownership of the stone lasted until her death in 1947.

Harry Winston Inc. of New York City purchased Mrs. McLean's entire jewelry collection, including the Hope diamond, from her estate in 1949. This collection also included the 94.8-carat Star of the East diamond, the 15-carat Star of the South diamond, a 9-carat green diamond, and a 31-carat diamond which is now called the McLean diamond.

For the next 10 years the Hope diamond was shown at many exhibits and charitable events world wide by Harry Winston Inc., including as the central attraction of their Court of Jewels exhibition. On November 10, 1958, they donated the Hope diamond to the Smithsonian Institution, and almost immediately the great blue stone became its premier attraction.

The Hope diamond has left the Smithsonian only four times since it was donated. In 1962 it was exhibited for a month at the Louvre in Paris, France, as part of an exhibit entitled Ten Centuries of French Jewelry. In 1965 the Hope diamond traveled to South Africa where it was exhibited at the Rand Easter Show in Johannesburg. In 1984 the diamond was lent to Harry Winston Inc., in New York, as part of the firm's 50th anniversary celebration. In 1996 the Hope diamond was again sent to Harry Winston Inc., in New York, this time for cleaning and some minor restoration work.

The weight of the Hope diamond for many years was reported to be 44.5 carats. In 1974 it was removed from its setting and found actually to weigh 45.52 carats. It is classified as a type IIb diamond, which are semiconductive and usually phosphoresce. The Hope diamond phosphoresces a strong red color, which will last for several seconds after exposure to short wave ultra-violet light. The diamond's blue coloration is attributed to trace amounts of boron in the stone.

In the pendant surrounding the Hope diamond are 16 white diamonds, both pear-shapes and cushion cuts. A bail is soldered to the pendant where Mrs. McLean would often attach other diamonds including the McLean diamond and the Star of the East. The necklace chain contains 45 white diamonds.

Care of Diamonds

1. Clean the diamond. Use a soft brush, soap and water. If you do not possess a special brush for cleaning jewelry you can use an eyebrow or even a lipstick brush - these are soft, small and acceptable.
2. 2
   Before you start cleaning, make a mix of warm water and a mild detergent. Then place in the bowl, where you made the mixture, your diamond jewelry. Always use a mild cleanser to clean your diamond. Jewelry stores use a diluted ammonia to clean with. The easiest way for you to replicate this at home is by using Windex and mix it with hot water. The heat in the water will loosen up any oils on the stone.
3. 3
   Soak it for a few minutes and then scrub with a brush. An old toothbrush works best. Make sure to get under the stone as this is where the dirt and oils will gather.
4. 4
   Rinse. To rinse the diamond jewelry you can use a strainer.
5. 5
   After the cleaning use a clean cloth to dry the jewelry.

SAVE DIAMONDS

There are many places to buy diamonds from. We look and see expensive prices. Could there be a way to save? Let us find them here!

The first thing to remember is that jewelry has a high mark up price on it. That means that the retailer makes a handsome profit. The reason is that it is high priced items, and is not going to be purchased like tooth paste!

The point to remember is that diamonds by themselves attract a certain amount of money, and the result is that these diamonds are likely to have a narrower profit margin. So the result is that it is harder to make big, big savings on these. Though there is room to make savings.

For example, the jewelry with diamonds may likely have the possibility of a 50% saving, however a diamond could have a maximum saving of 5%.

To make savings, there are some routes to go. For example, try visiting several stores, and see what they have. This will bring out a bigger selection, as well as be able to make bigger savings.

The next place to look is online. There are many stores online, and they generally have the ability to offer a wider range of products than you would at first find in a jewelry store.

These places often come with big savings. To make the savings, visit several stores, and you will find a big selection, as well as a big saving.

It can be done in a much quicker time than visiting local stores. In fact by time you visit one store, it is possible to go through 5 or 10 stores online and make big savings on your next purchase. So save with diamonds!

FOREX SHOWN

Overall, the major pairs saw some minor spikes in price as the new trading week began. During the session, Japan released a report detailing their preliminary gross domestic product which has been shown to have increased to 1.2 percent over analysts estimates of 0.7 percent.

The euro (Eur/Usd 1.4957) opened the new trading week 10 pips higher as the pair raced ahead to the R1 swing point at 1.4965 which stopped the pair in its tracks. The gap, although minor, may still be closed if the pair decides to test the 20 day moving average at 1.4885.

The pound (Gbp/Usd 1.6712) along with the cad has had the largest gap, by nearly 20 pips. The pair was also rejected from the R1 swing level at 1.6740 during the overnight session. Support for the pair lies at the 1.6630 level while 1.6850 is major resistance.

The aussie (Aud/Usd 0.9333) is the second pair to successfully close its gap during the overnight session. The pair is finding minor support at the 0.9330 area which is near the high from Friday and resistance for the pair is seen at 0.9365.

The cad (Usd/Cad 1.0503) had a large 20 pip gap at the start of trading but was the first pair to close the gap quickly. The pair spent last Friday in a steady downtrend after being rejected from the 20 day moving average.

The swissy (Usd/Chf 1.0089) and the yen had virtually no change from their closing prices on Friday. The swissy has spent the session strengthening and finding support near the 1.0085 level which coincides with the S1 swing level.

The yen (Usd/Jpy 89.47) is following the swissy in that it has spent the session strengthening after a dramatic fall last Friday. The pair has mild resistance at 89.80 while the most immediate support is at the 89.35 level.

Markets throughout Asia were trading in mixed fashion. The Japanese Nikkei was declining slightly at the start of the week by 17 points while the Australian S&P/ASX was advancing 29 points higher. There are more stocks declining on the Nikkei 225 than were advancing. Encouraging results from the retail sector in the US on Friday has helped exporters. Toyota Motors has advanced 0.30 percent while financials such as Mizuho Financial declined 2.23 percent.

Meanwhile, overnight the Cabinet Office in Japan has released the preliminary gross domestic product which has increased to 1.2 percent for the quarter, the second consecutive expansion after the nation's worst recession.

Also released was a report on the Rightmove house price index from the UK. This report has shown that home sellers have decreased their asking prices during November for the first time the previous three months. Demand for property has dropped as the year comes to a close.

The MSCI Asia Pacific Index has gaining 0.44 points or 0.37 percent during the session.

Overnight, the Japanese Nikkei has declined 17.65 points (0.18%) to 9,752.66. The Australian S&P/Asx was advancing 29.50 points (0.63%) to 4,735.90.

Crude oil was recently trading at $76.99 per barrel, higher by $0.64. The commodity found resistance near the 20 day moving average.

Gold was recently surging higher by $7.80 to $1,124.50. The precious metal has broken above resistance previously seen at the 1120 level.

Pak forex03

part from money in the UN missions,two things also comes along with it.One is war experience and the other is reputation.We need both of it.Though they get little war experience,yet at times they are ambushed.This attributes to their skills.

And of course we need the money,we don't have a strong economy neither we have enough fund to support strong military.If money is coming,so be it.In case you don't know,Bangladesh military and even Pakistan military runs projects like MILBUS(as termed by Ayesha Siddiqa),which acts like an enterprise.Pakistan army has the highest number of troops in UN missions.Now did this turn Pakistan army into mercenaries?If you think so,then you better debate with the Pakistani friends here.
As I can see Pakistan army is still aware of its threats and using the money in procurement.

And its not only that we are only buying BTR-80s.Last year we procure a significant number of Mi-17s.Now these are necessary for our military.And they are not even considered in the defence budget,as far as I know.So these are bonus for the army.

Some people think themselves as "Mr.Know it all".You are one of them.That's why we often find them ranting on these boards.
Or you are just too jealous of our country's success.May be because it isn't even your country.....who knows?
First this is not discussion about Pakistan or any other country. This discussion is about Bangladesh. Check the thread. But if you are that desperate to deflect the focus on your dangerous and bankrupt thinking and interested in criticizing Pakistan army then open a thread in Pakistan military section.

On your view:
Having business locally and generate revenue for welfare of armed foces are completely different than relying on foreign sources like UN for money. In Bangladesh "Sena kalyan Sangshta" runs quite a few businesses including Radisson Dhaka. That's not the question or concern here.

If motivation for Bangladesh army UN mission are to gain “war” (by your definition) experience by guarding against some rag tag African guerilla groups and buy few APC then I am sorry to say Bangladesh as my country wasted scarce money and resources on people like you.

Pak forex02

KARACHI: Pakistan's total liquid foreign reserves increased further to 14.4911 billion dollars, said a SBP statement.

On Sept. 26, 2009 the foreign reserves held by State Bank amounted dollars 10.9354 billion, whereas net foreign reserves held by banks other than SBP figured 3.5557 billion dollars.

One week earlier, the forex were figured $ 14.4763 billion ranking the highest in last two years.

The foreign reserves held by State Bank stand at 10.9415 billion dollars while 3.5348 billion dollars are with banks other than SBP.
Pakistan's forex reserves rise to $9.429 bln
Thu January 16, 2003 06:12 AM ET
KARACHI, Jan 16 (Reuters) - Pakistan's foreign exchange reserves rose to $9.429 billion in the week to January 11, up $50 million from the previous week, the central bank said on Thursday.
The State Bank of Pakistan gave no reason for the rise, but bankers said it was partly due to higher remittances from expatriate Pakistanis who have been using official channels since a crackdown on money laundering after September 11, 2001.

The central bank said in a statement its direct holdings amounted to $7.941 billion, while commercial banks held $1.488 billion.

The central bank changed its method of calculating foreign reserves last year and now monitors total liquid foreign reserves, including the previously undisclosed foreign exchange deposits held by other banks.

Aid and grants from the United States and its Western allies in return for Islamabad's support for the U.S.-led war in Afghanistan have also helped Pakistan's foreign exchange reserves to rise.

Shaukat Aziz, adviser to Prime Minister Mir Zafarullah Khan Jamali on finance and economic affairs, said last month that foreign exchange reserves were likely to be about $10 billion by the end of the current fiscal year in June 2003.

Pak forex 01

behjat
You mention alot of things that can be done in the varios sectors like distribution/storage in ag, management/infrastructure in power, etc. All these things point to investment and technology. Develop better command and control over resources in any sector and it will become more efficient and produce more services and profit. We all agree on that.

When you mention disappointment with musharraf and his economic teams pace of micro reform/achievement, you also have to look at his position. Musharraf is still trying to figure out where he and his policies will fit into pakistan in the near and long term. What will civil governemtn look like in 18 months time. If divisive issues like dams or major projects to spur growth and increase resources like water, power, etc are begun at the alienation of people afraid of what their piece of the pie will be and politicians on the outside quick to pounce on the fears of segments of the population, will money be spent and projects stopped half way completed as is the case in pakistan quite often. Musharraf has alot on his plate at the moment in an executive molding sort of way. What will the future setup be and what will be his place. While we may be used to the current situation, it is a unique one and one whereby the decisions of today might last for 10 to 15 years until the next over throw or might be sustainable. WHile there have been military govts. in the past, this is the first outside the cold war and took place while on the outside of the US friends club. THis military govt. has worked to gain stability rather than have stability supplied outright from day one with a big check signed by uncle sam. Give musharraf enough credit in that he took a sinking ship and at the very least plugged the holes until the world and pakistans place in it changed on 9/11. I could go on and on with what administratively the govt is looking at let alone economically but I think we can agree that this is a unique moment in pakistans course for the next decade or so.
All of my disagreements have been on domestic perception and human development issues. We are SORELY lagging behind where we ought to be and all govts inclusive of the current one have paid only lip service to the common man. Just three days ago one of uncle's car was taken at gunpoint 100 yards from our house in KHI. My cousin (special education, age 14) was kicked out of the car and the driver returned injured hours later. This is the THIRD incidence of carjacking in my IMMEDIATE family in the last three years. In addition out of 4 homes in KHI that are those of blood relations, three were subjects of "dakay" in the past three years as well. My cousins, aunts and uncles some of who returned from here to permanantly live in Pakistan were subjected to incredible humiliation by the dacoits who all claimed to have "high connections" and that they "will not be found no matter how hard you try". My brother in law's motorcycle was stolen three weeks ago, the other's was lifted last year. And the cops are worse than ever. I can give you exact details, but it'll defeat the purpose of this discussion. Karachi's roads were improved only after Jamali and Musharraf visited after the flooding last year. Alas, only the major roads were improved and, that too has started to deteriorate already. Imagine, potholes that will bust your tires on roads that were built on hasty orders a mere 6-8 months ago. The total number of jobs in Pakistan hasn't increased much in the last 4 years. But we've added 10 million more people to our population. Do you think they fall under the employed category or the unemployed one?

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Joint Association Survey (JAS) on Drilling Costs is the only long-term source of information on detailed U.S. drilling expenditures. The survey, conducted since 1959, presents information on wells, footage and related expenditures for each active drilling area. Data for oil wells, gas wells, and dry holes are reported separately and the information is further disaggregated by depth interval for each state and area. Similar summary tables are provided for the offshore and onshore areas. Also included in the report are sections on drilling expenditures for exploratory and development wells, horizontal wells and coal-bed methane gas wells. A detailed comparison of the impact of price change on the drilling costs is also included. This publication is normally available in the fall of each year. Prior years' data are also available at a reduced price.
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The markets

by S. Kambayash

LORD SKIDELSKY’s excellent new book, “Keynes: The Return of the Master”, makes one striking claim about the economist’s work. “The centrepiece of Keynes’s theory”, he writes, “is the existence of inescapable uncertainty about the future.”

Uncertainty is different from risk, as Frank Knight, an economist, first pointed out in 1921. A poker player can figure out the odds of success when holding a pair of kings. But when dealing with macroeconomic events or forecasting stockmarket movements, you do not know the potential distribution of outcomes. There are an awful lot of jokers in the pack.

Most people face a future that comprises a combination of Donald Rumsfeld’s known and unknown unknowns. Choosing to buy a house, for example, involves a series of bets on land prices, interest rates, taxes, job prospects, future planning decisions in the area selected and the structural soundness of the property concerned. It is impossible for any buyer to be confident about so many variables. Any decision must be a guess.

Buyers usually accept this constraint and make the best guess they can. But when uncertainty increases substantially, the temptation is to freeze—to do nothing until the situation becomes clearer. Consumers delay their spending plans; companies halt their capital expenditure. In Keynes’s words, “animal spirits” are depressed. That was one reason he believed there was a case for government intervention: to act as the spender of last resort.

But uncertainty also has another impact. The stockmarket is used both as a barometer of investors’ risk aversion and as a lead indicator of economic health. When investors are uncertain (risk-averse), they have a preference for holding cash and the price of shares falls. That in turn feeds back to the economy through a further downward effect on confidence.
Over the past 25 years, the authorities have had a tried-and-trusted method for bringing a halt to this vicious circle: cutting interest rates. The bigger the crisis, the faster and farther they have to cut. That is why British interest rates are lower than they have been in the 300-year-plus history of the Bank of England. Traditionally, 2% was seen as the floor for short-term rates.

Forex Confidante

Forex Confidante is a currency trading system developed by Thomas Strigano, a forex trading expert who worked as Chief Trader for an Italian Bank. Thomas used the exact strategies in the Forex Confidante System to manage millions of dollars of his elite Banking clients and made big profits. Before I explain more details and present you the Forex Confidante review, I should tell you that this is not a trading robot like FAP Turbo.
I must agree that the Forex Confidante website looks hyped up. That is because the sales and marketing of Forex Confidante System is done by Eric Rockefeller who is an internet marketer. The system gives you step by step strategies and plans to identify entry and exit points of highly profitable winning trades. Forex Confidante is the exact system what Thomas Strigano followed to make over 1.3 million dollars by trading from home.Forex Confidante system got excellent rating from most of the users. The blueprint is not an easy read and you may want to follow the forex confidante strategies on a demo account first, re-read the manual and watch the training videos to completely understand the forex system. There is excellent support offered by Tom (Thomas) the creator of this system.
If you prefer manual trading over auto trading robots, then I recommend you to get Forex Confidante system.
Forex confidante strategies are based on the fact the human psychology is the single most important factor that controls the forex market. All of us know that we can't win all trades and might lose some trades. According to Forex confidante, how you react to the losses makes the difference and no forex robot can do this.The key to the high success rate of Forex Confidante system is its ability to eliminate losing trades. How do you do that? In simple terms you let other traders ruled by their emotions while you follow the step by step system in Forex Confidante which helps you to spot winning trades. The system gives you the exact blue print what Mr.Thomas used which consists of "The killer secret of the Forex market that 99% of traders miss" and "How to target gaps in the forex market"

How To Learn Currency Forex Online Trading

Well a good starting point is to look at just what Forex trading is and who the players in this market are. We should also think about just why you should be learning online Forex trading and thinking about starting you own online Forex trading business.

The Forex market (which is sometimes referred to as the FX market and for which the full title is The Foreign Exchange Market) was established as we know it today in 1971 following the demise of fixed currency exchanges. Forex currency trading is conducted around the clock, 5 days a week, and daily currency trades are worth in the region of $1.9 trillion US dollars. This means that the Forex the largest market in the world and puts the major stock markets very firmly into second place.A world-wide market established to facilitate the buying and selling of currency, the Forex market involves large organizations, such as central governments, commercial companies and international commercial banks as well as smaller players such as brokerage houses and individual brokers.

There is no set location for the market (although there are major trading centers around the world in a number of cities such as London, Frankfurt, New York and Tokyo) but it is essentially an 'over-the-counter' market with the vast majority of trading being conducted by telephone and on the internet.

The exchange of currencies is a central element in supporting global trade and, as the major currencies such as the US dollar (USD), the British pound (GBP), the Euro (EUR), the Japanes yen (JPY) and others move against each other and the foreign currency exchange rate for any given pair of currencies changes, there is the opportunity to make money from currency exchanges.

The major players in the market take advantage of this by buying and selling in deals which often run into many millions of dollars, but the smaller players are also extremely active and often trade in deals of as low as one hundred thousand dollars. And, by trading on the back on the smaller players, individuals can get into the market with a lot less than that!

The fact that even small players can join this market means that, as long as you are prepared to take the time to understand the currency markets and to learn the skills of Forex trading, then, with a little bit of capital to invest, it is possible to enjoy an excellent income from online currency trading.

Why trade with an Forex Expert Advisor ?

Well, there's a saying "Plan your trade and trade your plan". Raymond Toh said in one of his articles "there's no way to make profit trading Forex (or achieving any success in any field) without firmly established rules and the discipline to obey them". In my opinion, you can not obey your rules if you trade manually, believe me: I tried manual trading and lost a lot of money. I believe that for the peace of your mind, it is better to find a programmer and describe your manual practice to him, and he will give you back an Expert Advisor that makes your manual trading 100% automated.! - codersgur
Many people on the Forex market select signal or alerts tradings. It's very simple: you are susbscribed a system that sends you input and output signals/alerts, you execute them - nothing difficult. We will not judge in this post if the Forex trading signals (free or not) is the best way to trade on the market. We will focus on how to choose the best Forex signal provider. You understand that signal quality is everything for you, when you trade with the signals. Quality Signals, you have profits; wrong signals, you look big hole in your pockets. So the question comes down to ...
1st Forex Trading Academy. This trading course intends to provide to all of the students analytical tools on the trading system and methodologies. In this respect, the purpose of the course is to provide an overview of the many strategies that are being used in Forex market and to discuss the steps and tools that are needed in order to use these strategies successfully.

Forex Killer Features

Dr. Jorn Zelbach. Market Analyst (Germany)

The Forex Killer software package is chock full of features and benefits

• It is used by professionals & beginners alike with no experience whatsoever.
• You can start with as little as $500 USD on a real forex account or learn the ropes on a demo account without risking any real money at all.
• It works with all trading platforms because it is an independent program. You just have to feed it with market data and follow it’s trading advice.
• It was developed by a mathematics professor, a behavioral psychologist and an experienced forex trader.
• It works in any country and with any broker.
• A highly profitable system that lets you earn thousands of dollars each day.
• It applies to each and every currency pair and any financial market.
• Reliable and consistent. It’s stand-alone software!
• It can be tested without having to risk any trading capital!
• Can be used anywhere at any time because the market is always open!
• Breathtakingly simple. It’s easily and quickly understood by the average independent trader as well as newbies!
• Free Updates for life. We constantly tweak the software for maximum efficiency.

Forex Killer Efficiency and Results

- used by professionals & beginners alike with no experience whatsoever
- You can start with as little as 500 usd on a real forex account or learn the ropes on a demo account without risking any real money at all.
- Works with all trading plattforms, it is an independent program. You just have to feed it with market data and follow its trading advices.
- Developed by a mathematics professor, a behavioural psychologist and an experienced forex trader
- Works in any country with every broker you like
- Highly profitable system that let`s you earn thousands of dollars every day
- Applies to each and every currency pair and any financial market
- Reliable and consistent. Stand-alone software!
- Can be tested without risking any trading capital!
- Can be used at any time anywhere as the market is always open!
- Breathtakingly simple. Easily and quickly understood by the average independent trader 6 newbies alike!

Forex Trading Made Easy

James Dicks


FOREX Made Easy is the first no-nonsense, step-by-step introduction to making the FOREX an integral part of your overall trading program.

* Use unheard-of 100:1 leverage to make the most of your limited trading capital
* Practice market-proven techniques guaranteed to minimize your risk exposure
* Trade the FOREX market online, 24 hours a day, six days a week

Discover how to make it work for you, in renowned FOREX trading pioneer James Dicks' commonsense yet revolutionary FOREX Made Easy.

"In this book I have put together what I feel to be a very investor-friendly understanding of the FOREX market and how to trade it. This is for the everyday investor, looking for an alternative to the stock market for better portfolio diversification."
The foreign currency market is the largest and most liquid trading market in the world, with $1.5 trillion or more traded every day. And in our increasingly barrier-free global financial markets, online traders and investors armed with inexpensive point-and-click trading systems, along with a new attitude that markets should be open to all traders, all the time, have made it among the most accessible!

Problem is, the majority of books written on FOREX trading have been needlessly complex and technically dense, written for institutional investors making billion dollar-plus trades. FOREX Made Easy changes all that, telling you everything you need to know minus the unnecessary detail and tactics. The first book to provide you with only the information you need, to allow you to get a feel for the market and determine how to fit FOREX trading into your long-term investing program, this straight-talking guidebook reveals:

FOREX Made Easy gives you much more than just facts and numbers. This first-of-its-kind book provides you with the tools and techniques you need to stand toe-to-toe with the world's most powerful traders and institutions, using FOREX trading like they have for years to both offset your market risks and augment your profits. Simple, uncomplicated, and filled with examples of individual traders using their smaller size to tremendous advantage in the institution-dominated FOREX, it will open your eyes to an opportunity that is unique, unprecedented, and bound to become a staple for traders looking for new sources of profits, and innovative techniques to protect those profits.

REAL LIVE 'AUTO' FOREX ACCOUNT

In the cruel world of auto Forex trading, lots of automatic Forex trading programs come and go. People keep on pursuing robots because it is automatic, faster than human, seldom needs supervision and they are able to work with all sizes of accounts. The software itself needs very few human intervention. The cream of the crop, FAP Turbo can decide the Forex trades itself and has the successful rate abut 95.9%, which is a very impressive performance in the automated business of currency pair trading.

Furthermore, the draw down of FAP Turbo is even less just 0.35%, with the start up deposit as little as $50, it is very easy for beginners to initiate the program and to use holistically. Though there is no extra cost for program updates or monthly subscription, yet this program is to be hosted on its company's server the best. So that your FAP Turbo can work even when your computer is turned off. Of course customers have to pay the virtual hosting charges.

The Back testing of FAP Turbo was launched in different phases. After an extended amount of time for good research and development, detail testing of the software was done. In order to understand how FAP Turbo could handle various market situations, this testing traces back historical record of tradings in the past nine years. This testing presents very excellent results, which demonstrates a long-term profitable results and comparatively short drawdown. Because of this long-time observation, FAP Turbo is now considered as the very example of automatic

Now back testing is simply based upon previous occurrences. Its result has to be supplemented by live testing, it is considered even more important for the reliability of the robot. The results of the performance of real accounts reflect how the program works with different brokers, and in both large and small accounts, customers learn how to read Forex trading signals. For all these FAP Turbo gives equally astonishing results.

Besides comparing all these results, good words of mouth pass along even quicker among auto Forex trading community. Both online reviews of other novices and column editors who view the software in a more professional way can tell you more about the programs. To be exact, the income traded by the general population of auto Forex trading community through this software really count, so you have to check for the total amount of gain people earn monthly. Convincing 'testimonials' told from others also somehow propel the popularity of FAP Turbo.

Forex Steps

If you want to make money in forex trading you need to have a soundly based forex trading strategy. This is far easier to achieve than many traders think it is and here we will show you how to build one in 4 simple steps.

1. Success Comes From Inner Understanding

To succeed at forex trading you need to do it on your own and understand EXACTLY how and why your system works.

Even if you follow a vendor or someone else's currency trading system, you can't simply follow it you must learn it and have confidence in it.

If you don't understand how your trading system will help you succeed, you won't have confidence in it which will lead to a break down of discipline if you hit a losing period.

Keep in mind if you don't have the discipline to follow your trading method, you don't have a method!

2. Keep It Simple & Work Smart

Many traders believe the more effort they put into their forex trading strategy the more they will make - this is not true. You get rewarded for being right with your trading signal and that's it.

Other traders think the more complicated their system is the more chance it has of succeeding but again - this is not true.

All the best forex trading systems are simple and this means they have fewer elements to break and are more robust in the face of brutal market conditions.

This is actually good news, as you need to work smart and not hard to succeed.

Simply focus on the right areas and learn them. If you do this, it will lead you to currency trading success.

3. A Successful Trading System

Here we can't give you all that goes into a successful trading system - but we will give you some important basic elements you need to keep in mind when building one.

- Do not day trade, as you are guaranteed to lose. All short term volatility is random and you cannot get the odds on your side, either swing trade or follow long term trends.

- Base your system on the concept of support and resistance and breakout methodology.

- Do not predict with your system. Use momentum oscillators to confirm each and every trading signal.

If you predict that's simply hoping or guessing and you won't win.

Trade the truth of price action and confirm.

- Always place stops and assume the worst eventuality - you need to protect what you have above all else. As one trader I once knew said:

"If you take care of the losses the profits will look after themselves".

4. The crucial Point You Need to Understand!

In forex trading 95% of traders lose.

This is simply in most instances down to the fact they don't work smart and learn the right information.

They therefore don't have confidence to apply their system with discipline.

You need to understand as part of your forex education that your method is important - but you need the right mindset to apply it.

If you want to learn currency trading you can, in fact anyone can - but you must learn how to trade currencies the right way and build a logical, simple forex trading strategy which, takes into account all the points we have made above.

Forex Steps 2

Literally every single day, thousands of new traders enter the forex market hoping to make a quick profit. Most of these traders don't have a clue of what they're doing, however, and more often than not will jump in blindly after taking in an afternoon of MSNBC. Unfortunately these traders often lose more than they take in or get cleaned out their first day. It's important to know what you're doing, so follows this two substantial but simple steps to dominate the forex market.

First you should start of with a demo or practice account. This enables you to get a first hand experience and idea of what the market is like without having to devote the money to it so there is no risk while you learn the basics. You can initiate trades and follow their progress while you learn everything you need to know about how to trade.

It's generally recommended that you practice demo trading for at least 2 months before transitioning into the real thing. Make sure you have a number of successful trades underneath your belt, a long succession of them to build your confidence. I'm going to backtrack for a second to reach my next step. The best way to secure a forex demo trading account when building up to forex trading profit comes in the form of forex trading software. This allows you to learn the market and the program simultaneously to give yourself a giant leap and put you on par with the pros that much sooner.

Forex trading software is basically a program which you use in conjunction with your campaign to assist you in a number of ways. As the forex market is much more mature than the traditional stock exchange and keeps much longer hours, you've got to be able to stay on top of it for nearly every hour of every day and night, save for a few on the weekend. It's just common sense that if you want to be successful, you've got to be able to act at any moment. As this is impossible for the average person, forex trading software takes a lot of the burden off of your back.

With basic protocols like take profit and stop loss, you'll almost always be on the winning side of all of your trades. Your program senses harmful or beneficial changes in the market and trades on your behalf accordingly if you allow it to do so, thus maximizing your gains and just as importantly minimizing your losses in your forex trading profit building.

Perhaps the area in which forex trading software really excels comes in the form of signal generation. Signals are basically tips which you use to know where the market will turn before it does so that you can act on it early and trade ahead of the curve to really take advantage and build your forex trading profit. These programs rely exclusively on tested mathematical algorithms which eliminate human error and through constant updates from their publishers, are remarkably accurate in their predictions. If you want the most accurate information guiding your trades, there is no substitute for forex auto trading software.

Forex Trading Robot

Nowadays, many people that know at least a little bit about Forex Market and what it has to offer, are in the eternal indecision of whether or not to use an automated trading system, better known as Robots. Here are X reasons why they should make up their minds and start using a FX Robot right away:

Reason #1: Because it’s easy

Forex Automated Trading Systems are really easy to configure and use. Most of them come pre-ready, people just need to set a couple of parameters and they will be doing trades in the next minute.

Reason #2: Robots do not rest

Being the Forex Market active 24 hours a day, 5 days a week, it’s impossible for a human to be online for all trades that take place in FX. For a robot this is not a problem, these software could be online all day long the five days of the week doing trades, all they need is their owners to have their PC on all the time or use a VPS

Forex is not a trading robot that makes automatic trades. It is a manual system that has some unique indicators and a money management system. These unique indicators help you to identify trades in terms of possible ones and bad trades, including the exit methods.

Anyone starting from beginners to experts can use this system for their trading. It comes with a variety of trading manuals, and video tutorials to make trading much more easily for you. Since the system is not automatic all the decision on this system needs to be taken by you and you will need all the knowledge that you can get on trading. This makes sure that you have more control over your trades.

The videos will also show you how some live trading is made so that you will get a better idea of the process. It is very easy to use and the Forex Rebellion system makes sure that you breeze through the process of trading with no hassles at all.

Something that you also need to understand is that it’s not software, and you don’t have to install anything. You set up the indicators, follow the rules and you will be good to go.

what is forex tradind?

The investor's goal in Forex trading is to profit from foreign currency movements. Forex trading or currency trading is always done in currency pairs. For example, the exchange rate of EUR/USD on Aug 26th, 2003 was 1.0857. This number is also referred to as a "Forex rate" or just "rate" for short. If the investor had bought 1000 euros on that date, he would have paid 1085.70 U.S. dollars. One year later, the Forex rate was 1.2083, which means that the value of the euro (the numerator of the EUR/USD ratio) increased in relation to the U.S. dollar. The investor could now sell the 1000 euros in order to receive 1208.30 dollars. Therefore, the investor would have USD 122.60 more than what he had started one year earlier. However, to know if the investor made a good investment, one needs to compare this investment option to alternative investments. At the very minimum, the return on investment (ROI) should be compared to the return on a "risk-free" investment. One example of a risk-free investment is long-term U.S. government bonds since there is practically no chance for a default, i.e. the U.S. government going bankrupt or being unable or unwilling to pay its debt obligation.

When trading currencies, trade only when you expect the currency you are buying to increase in value relative to the currency you are selling. If the currency you are buying does increase in value, you must sell back the other currency in order to lock in a profit. An open trade (also called an open position) is a trade in which a trader has bought or sold a particular currency pair and has not yet sold or bought back the equivalent amount to close the position.

However, it is estimated that anywhere from 70%-90% of the FX market is speculative. In other words, the person or institution that bought or sold the currency has no plan to actually take delivery of the currency in the end; rather, they were solely speculating on the movement of that particular currency.

Forex trading is typically done through a broker or market maker. As a forex trader you can choose a currency pair that you expect to change in value and place a trade accordingly. For example, if you had purchased 1,000 Euros in January of 2005, it would have cost you around $1,200 USD. Throughout 2005 the Euro’s value vs. the U.S. Dollar’s value increased. At the end of the year 1,000 Euros was worth $1,300 U.S. Dollars. If you had chosen to end your trade at that point, you would have a $100 gain.

Forex trades can be placed through a broker or market maker. Orders can be placed with just a few clicks and the broker then passes the order along to a partner in the Interbank Market to fill your position. When you close your trade, the broker closes the position on the Interbank Market and credits your account with the loss or gain. This can all happen literally within a few seconds.

what is forex?

Foreign Exchange (FOREX) is the arena where a nation's currency is exchanged for that of another. The foreign exchange market is the largest financial market in the world, with the equivalent of over $1.9 trillion changing hands daily; more than three times the aggregate amount of the US Equity and Treasury markets combined. Unlike other financial markets, the Forex market has no physical location and no central exchange (off-exchange). It operates through a global network of banks, corporations and individuals trading one currency for another. The lack of a physical exchange enables the Forex market to operate on a 24-hour basis, spanning from one zone to another in all the major financial centers.
Traditionally, retail investors' only means of gaining access to the foreign exchange market was through banks that transacted large amounts of currencies for commercial and investment purposes. Trading volume has increased rapidly over time, especially after exchange rates were allowed to float freely in 1971. Today, importers and exporters, international portfolio managers, multinational corporations, speculators, day traders, long-term holders and hedge funds all use the FOREX market to pay for goods and services, transact in financial assets or to reduce the risk of currency movements by hedging their exposure in other markets.

MG Financial, now operating in over 100 countries, serves all manner of clients, comprising speculators and strategic traders. Whether it’s day-traders looking for short-term gains, or fund managers wanting to hedge their non-US assets, MG's DealStation™ allows them to participate in FOREX trading by providing a combination of live quotes, Real-Time charts, and news and analysis that attracts traders with an orientation towards fundamental and/or technical analysis.