Incarceration Policy And Crime Reduction - 1332 Words

As already covered in the literature review, studies on the relationship between incarceration policy and crime reduction is yet to be clear for utilization by policymakers. In most cases, researchers agree that increased incarceration may perhaps have a positive effect on the reduction of crime rates. However, it is the scale of this action that has a limiting scope attached to it when empirical studies are carried. For instance, Stemen (2007) observes that a 10 percent increase in incarceration may lead to about 2 to 4 percent reduction in crime. Moreover, further increases in the number of individuals being sentenced in prisons have further economic ramifications without necessarily helping in direct reduction of criminal activities or†¦show more content†¦As defined by Liedka, Piehl Useem (2006), deterrence refers to the action against crime through the introduction of legal sanctions. In this way, there is an incentive to encourage non-criminal behavior among the population. On the other hand, incapacitation refers to the physical restraints directed towards criminals in order to eliminate further crime. In effect, both incapacitation and deterrence are meant to have direct positive effects on crime rates. By reducing the number of criminals roaming on the streets and introducing penalties for anyone found to be involved in such activities, the primary expectation is that crime rates should drastically drop. However, questions have been raised on whether this factor still holds when the scale of incarceration increases over time. The Issue of Scale The findings of this paper have raised several issues based on the linkage between scale of incarceration and crime rates in a given jurisdiction. First, results indicate that the effectiveness of incarceration in instances of increased crime may rely on a given jurisdiction. This means that this policy of crime reduction may not be universally effective. Generally, jurisdictions whose incarceration policy implementation are at advanced stages may face lesser challenges in crime reduction that their less developed peers. This is an obvious finding because it is expected that

Essay on Is Physician Assisted Suicide Ethical - 2628 Words

Is Physician Assisted Suicide Ethical? Theresa Anderson SOC 120 Introduction to Ethics amp; Social Responsibility Instructor: David Jung November 25, 2012 Physician assisted suicide, is this an ethical procedure? Many feel strongly on both sides of this issue. Some states such as Washington and Oregon have made Physician assisted suicide legal. Other states such as Michigan and Massachusetts have put the issue to a vote and the voters have turned down the option. What exactly is physician assisted suicide? According to Dictionary.com, the definition is a situation in which a physician provides the means of death for a gravely ill patient .Dehal and Levy explain, â€Å"The Death With Dignity Act (DWDA) allows mentally competent,†¦show more content†¦Who is ethically harmed by physician assisted suicide? The family members that believe that suicide is against their family’s religion may consider themselves ethically harmed. The doctors who feel that assisting in the suicide is against the Hippocratic Oath may feel that this is unethical, but as stated in End-of-life issues in the acute and critically ill patient, â₠¬Å" Patient autonomy is a respect for an individuals right of self-rule. It implies that a patient best knows his/her own goals and values relating to medical interventions. In addition, patients have the right to make decisions that may conflict with the recommendations of family members and health care providers,† (Savory amp; Marco, 2009) According to the utilitarianism argument physician assisted suicide is ethical. With deontology the conclusion would remain the same as with the utilitarianism principle. Mosser explains, â€Å"The deontologist argues that we have a duty, or an obligation, to treat other people with respect; human beings have dignity, and we must take that dignity into consideration when dealing with them.†(Mosser, 2010, Ch1, Pg7) In letting a person choose to die with dignity, we show our respect to them during their final days. As long as the person is able to communicate that their wish is to have a doctor help end their life the deontologist would state that physician assisted suicide is an ethical practice.Show MoreRelatedThe Ethical Issue Of Physician Assisted Suicide1580 Words   |  7 Pagesvice and virtue, this paper explores the relevance of Aristotle’s moral philosophy in modern day and will be applied to the contemporary ethical issue surrounding physician assisted suicide. By exploring Aristotle’s work through primary and secondary sources, thi s paper will discuss the greater good and happiness as it relates to not only the patient or physician, but as a member of a greater social circle and that of society because to Aristotle the role of the individual is less important than theirRead MoreThe Ethical Issues Of Physician Assisted Suicide Essay1736 Words   |  7 PagesEuthanasia is described as the intentional discontinuation, by the patient s physician, of vital treatment that could prolong the person s life. Assisted suicide occurs when a health care worker provides a patient with tools and/or medication that will help the patient kill him or herself, without the direct intervention of the care provider. This paper will define key terms for my argument against Physician Assisted Death, and why I believe it’s wrong, where I will provide a brief background ofRead MorePhysician Assisted Suicide is NOT Ethical Essay1347 Words   |  6 PagesIs physician assisted suicide morally right? This has been a controversial subject for some time now. People are wondering whether or not it is the most humane thing to do. If dogs can be putdown, why not people? The reason is in that question. They are people. Every life is important, no matter how long it may be. Instead of finding a way to get rid of people faster, the government could put those efforts in something more positive. If other people are considering whether or not the patients’ lifeRead MoreThe Ethical Issues Of Physician Assisted Suicide1586 Words   |  7 PagesPhysician Assisted Suicide Physician Assisted Suicide Is it Right or Wrong? The ethical issues of physician-assisted suicide are both emotional and controversial, as it ranks right up there with abortion. Some argue physician assisted suicide is ethically permissible for a dying person who has choosing to escape the unbearable suffering at the end of life. Furthermore, it is the physician’s duty to alleviate the patients suffering, which at times justifies providing aid-in -dying. These argumentsRead MoreThe Ethical Principles Of Physician Assisted Suicide2297 Words   |  10 Pagesforms of physician-assisted death, such as active, passive, and assisted suicide. To some people they may mean the same thing but in reality, they are quite different. Active euthanasia is when a physician physically injects the patient with a drug that ends their live or in some way is the direct result of the patient’s death. Passive euthanasia is the result of something taken away from the patient that results in t heir death, such as removing a breathing tube or stopping treatment. Physician assistedRead MoreThe Ethical Principles Of Physician Assisted Suicide1214 Words   |  5 PagesPhysician-assisted suicide (PAS), refers to self-administration of medication prescribed to a patient by their physician to end his or her life, and euthanasia, the administering of lethal drugs by a physician to end a patient’s life (Lachman, 2015) are extremely controversial topics. For several decades, supporters for the legalization of PAS and euthanasia have served as advocates for terminally ill patients who wish to have an alternative to a long, drawn out, painful death. These supportersRead MoreThe Legal And Ethical Issues Involving Physician Assisted Suicide1134 Words   |  5 Pageswhat conditions is physician assisted suicide morally acceptable, is the question at hand and did these states make the right decision on such a slippery slope debate. This paper will go on to explain one side of this very touchy debate, it will also consider objections from the other side, and ultimately defend the position physician assisted suicide is wrong not only morally but also, ethically. My argument for this thesis is provided below: P1: Physician assisted suicide violates the doctor’sRead MoreMy Ethical Views on Physician Assisted Suicide Essay1598 Words   |  7 PagesMy Ethical Views on Physician Assisted Suicide Physician assisted suicide is immoral in the case of people who are alive and desire to terminate their life. However, there are extreme cases when hastening the dying process is justified in the circumstances of individuals who are in intense physical impairment. Physician-assisted suicide is defined as the practice where a physician provides a patient with a lethal dose of medication, uponRead More Are Physician-Assisted Suicide and Euthanasia Ethical? Essay1625 Words   |  7 PagesIs Euthanasia Ethical?        Ã‚  Ã‚  Ã‚  Ã‚   Euthanasia is one of the most acute and uncomfortable contemporary problems in medical ethics.   Is Euthanasia Ethical?   The case for euthanasia rests on one main fundamental moral principle: mercy.      Ã‚  Ã‚  Ã‚  Ã‚   It is not a new issue; euthanasia has been discussed-and practised-in both Eastern and Western cultures from the earliest historical times to the present.   But because of medicines new technological capacities to extend   lifeRead MorePhysician Assisted Suicide : Controversial Healthcare And Political Realms Alike1218 Words   |  5 Pages Physician-Assisted Suicide Elissa Munoz-Tucker University of Arizona Abstract Physician-assisted suicide is controversial in healthcare and political realms alike. Currently, this end-of-life option is practiced in five states within the United States. Social concerns regarding assisted suicide revolve around ethical quandaries; providing the means to a patient’s death is contradictory to ethical principles of healthcare providers. Political concerns surrounding

Fluctuation of Gold Price Free Essays

string(108) " sellers can work together to either get product they need or to make a profit from the fluctuation prices\." read and give rewards to me ABSTRACT Gold is a brilliant yellow precious metal that is resistant to air and corrosion. Gold comes second after bank deposits when it comes to the preference for investment in India and considered a savings and investment vehicle. India is the world’s largest consumer of gold in jewelry as an investment. We will write a custom essay sample on Fluctuation of Gold Price or any similar topic only for you Order Now Gold is traded in the form of securities on stock exchange Even when the gold prices are high there is steel boom in the commodities market of gold hence the main purpose and the need of the study are to know the investment pattern in gold and to hedge the risk The data which is used in the study is secondary data. The analysis has been done by using the technical tools Relative Strength Index (RSI), MACD. From the analysis it can be concluded that gold as an investment avenue has increased. There wider market for gold and a person with small amount can trade in gold. RSI can be considered as the best tool to evaluate the price movement of gold. The investors have to keep a keen watch on the price of gold and since there is an upward momentum in the price of gold it is time for the investor to sell CONTENT | | | | |CHAPTER |PARTICULAR |PAGE NO | |NO. | | | |1. INTRODUCTION | | | |NEED FOR THE STUDY | | | |OBJECTIVE OF THE STUDY | | | |SCOPE OF THE STUDY | | | |RESEARCH METHODOLOGY | | |LIMITATIONS | | | | | | |2. REVIEW OF LITERATURE | | | |TABLES AND GRAPH | | | | | | |3. COMPANY PROFILE | | | | | | |4. |DATA ANALYSIS INTERPRETAIONS | | | | | | |5. FINDING | | | |CONCLUSION | | | |RECOMMENDATIONS | | | | | | |6. BIBLIOGRAPHY | | CHAPTER NO — 1 INTRODUCTION INTRODUCTION ABOUT INDIAN COMMODITY MARKET Commodity future trading is an old concept and flourished in the late nineteenth century. There were several such exchanges that traded in specific commodities in certain geographies. In the 1960s the futures market ran into trou ble as high inflation resulted from a series of wars and droughts in the country which lead to considerable speculation and hoarding of agricultural commodities. Ever since the down of civilization commodity trading has become an integral part in the life of mankind. The very reason for this lies in the fact that commodities represent the fundamental utility of human being. Commodity markets are market where raw or primary products are exchange. These raw commodities are traded regulated commodity exchange they are bought and sold in standardize contract that may any movable property other them actionable claims, money and securities. This commodity market is becoming day by day the best for the increasing economy. Gold is valued in India as saving and investment vehicle and is the second preferred investment after bank deposit. India is world’s largest consumer of gold jeweler and in investment. Gold is traded in the form of securities on stock exchange. In the cities gold is facing competition from the stock market and a wide range of consumer goods. Domestic consumption is dictated by monsoon, harvest and marriage season. Indian jewellery off take is sensitive to price increases and even more so to the volatility. For years, portfolio managers have recommended a minimum of 10% to 20% of one’s total net worth in gold as a hedge against inflation or as a safety net in the event that our paper money system collapses. Hence the study is about the commodities market in gold. Every commodity has its own price, and varies across markets even at the point of first sale, i. e. the wholesale market. There is of course another very active financial market, which has a price that is widely traded, i. e. the stock market. Here shares of companies are traded by investors at prices which are determined by multitude of perceptions. NEED FOR THE STUDY:- ? Since there is a cut throat competition in the present world market There is a need to study about factors affecting gold prices ? Even when the gold prices are high there is still boom in the commodities market of gold hence the main purpose and the need of the study are to know the investment patterns in gold and to hedge the risk OBJECTIVE OF THE ST UDY:- 1. To know how gold is traded 2. To know the fluctuation of gold prices 3. To know the factors affecting gold prices 4. To evaluate the trend analysis of gold . To study the impact of gold on investors METHODOLOGY: – The data which is used secondary in a nature. SECONDARY DATA:- ? From various test books, journals, magazines, news papers and booklets from company. ? Information collected from different websites likes Gold World, MCX etc. SCOPE OF THE STUDY:- ? The scope of the study is about the day to day changes in the price of gold and the reasons behind the change. ? It focuses more on the fluctuations and the interest of investors to invest in gold even though the price is getting higher. The study also focuses more on the fluctuation in the gold and its relation to oil markets oil and gold are the two main items in the economy now that tends to increase day by day. LIMITATIONS:- ? Difficulty in getting the lives prices of gold in absence of online research softwar e. ? Use of limited technical tools. ? Commodity trading is limited to gold only. ? There may be factor other than those studied in this research which may impact on gold prices. ? The study is limited only for a certain period of time i. e. April to June 2012 CHAPTER-2 REVIEW OF LITERATURE TRADING OF GOLD IN COMMODITY MARKETS COMMODITY MARKET Commodity markets are markets where raw or primary product these raw commodities are traded on regulated commodities Exchange in which they are brought and sold in standardized contract it cover physical product markets but not ways that services including those of government, nor investment debt, can be seen as a commodity A commodity trading is sophisticated form of investing it is similar to stock trading but instead of buying and selling shares of companies, an investor buys and sells commodities likes stocks, commodities are traded on exchange where buyers and sellers can work together to either get product they need or to make a profit from the fluctuation prices. You read "Fluctuation of Gold Price" in category "Essay examples" There are few ways to trade commodities. Futures are contracting to buy or sell commodities at specific date. An option is the right to buy or sell a commodity at a specific price and date. COMMODITY TRADING: Trading futures is the purest way to invest in commodities. To trade commodities, an individual trading account can be opened either directly with a futures commission merchant or indirectly through as introducing broker. Another way to trade commodities is through a managed account, where you give someone written power of attorney to make and execute decisions about what and when to trade. He or she will have discretionary authority to buy or sell for your account or will contract you for approval to make trades, or you can hire a commodity trading advisor for a fee. And lastly, ever increasingly popular methods of diversified investing in commodities include commodity pools (limited partnerships) or commodity related mutual funds. In all futures markets, trading decision are made in two ways – Fundamental or Technical, although many traders use a combination of both. Fundamental analysis includes all factors that influence supply and demand. For the physical commodities markets, fundamental factors include weather and geopolitical events in producing countries – outside forces that influence price action. For the financial futures markets, factors such as Federal Reserve actions and economic reports are among fundamental forces affecting prices. Technical analysis is based strictly on inside market forces. It involves tracking various price patterns that occurred in the markets in the past. Analysts focus on a variety of time frames, and trading decisions are based on past tendencies with the idea these price patterns tends to repeat themselves. Technical analysis involves a wide range of techniques, and a variety of market indicators are studied including volume, open interest, and momentum. Each individual analyst has his favorite approach – technical analysis is just as much art as it is science. REGULATOR OF COMMODITY MARKET THE DIFFERENT PRODUCT IN COMMODITY MARKET ARE USE 1. Precious metal 6. Plantations 2. Base metal 7. Spice 3. Pulses 8. Sugar 4. Cereals 9. potato 5. Energies Introduction Gold Gold is a unique asset based on few basic characteristics. First, it is primarily a monetary asset, and partly a commodity. As much as two thirds of gold’s total accumulated holdings relate to â€Å"store of value† considerations. Holdings in this category include the central bank reserves, private investments, and high-cartage jewelry bought primarily in developing countries as a vehicle for savings. Thus, gold is primarily a monetary asset. Less than one third of gold’s total accumulated holdings can be considered a commodity, the jewelry bought in Western markets for adornment, and gold used in industry. The distinction between gold and commodities is important. Gold has maintained its value in after-inflation terms over the long run, while commodities have declined. Some analysts like to think of gold as a â€Å"currency without a country’. It is an internationally recognized asset that is not dependent upon any government’s promise to pay. This is an important feature when comparing gold to conventional diversifiers like T-bills or bonds, which unlike gold, do have counter-party risk History of gold in India Prior to 1962, India was the world’s largest gold market and the main trading center was Bombay. In 1962, the government enacted the Gold Contract Act, which prohibited the citizens of India from holding pure gold bars and coins due to loss of reserves during the indo-china war. It was declared that the old holdings in pure gold bars to be compulsorily converted into jewelry. Pure gold bars and coins were to be dealt only by licensed dealers. A large unofficial market sprung up which dealt in cash only as a consequence of this legislation that adversely affected the official gold market. This also made way for smuggling and black marketing, which comprised of many jewelers and bullion traders. In 1990, India was on a verge of default of external liabilities as it had a major foreign exchange problem. It had to give up the concept of controlling and licensing as it led to nothing more than corruption and shortages. As a result, the India government pledged 40 tones from their gold reserves with the bank of England. India had to adopt the concept of liberalization. The government abolished the 1962 Gold control Act in 1992 and liberalized the import of gold in India for a duty payment of Rs. 250per 10 grams. The government made up for the foreign exchange problem by allowing free imports and earning the taxes. This step expanded the gold market and it also waved off the unofficial trade i. e. smuggling and black marketing. This makes India the most price-sensitive market for gold in the world. Gold in Indian present scenario Gold is valued in India as a savings and investment vehicle and is the second preferred investment behind bank deposits. India is the world’s largest consumer of gold in jewelry (much of which is purchased as investment). The hoarding tendency is well ingrained in Indian society, not least because inheritance laws in the middle of the twentieth century lent a great desirability to anonymity. Indian people are renowned for saving for the future and the financial savings ratio is strong, with a ratio of financial assets-to-GDP of 93%. Gold’s circulates within the system and roughly 30% of gold jewelry fabrication is from recycled pieces. India is typically also the largest purchaser of coins and bars for investment (80tpa), although last year it had to concede first place to Japan in the wake of the heavy buying in the first quarter due to fears for the stability of the Japanese banking system. In 1998-2001 inclusive, annual Indian demand for gold in jewelry exceeded 600 tons; in 2002, however, due to rising and volatile prices and a poor monsoon season, this dropped back to 490 tons, and coin and bar demand dropped to 67 tons. Indian jewelry off take is sensitive to price increases and even more so to volatility, although this decline in tonnage since 1998 is also due in part to increasing competition from white and brown Goods and alternative investment vehicles, but is also a reflection of the increase in price. The Indian bride’s â€Å"Streedhan†, the Wealth she takes with her when she marries and which remains hers, is still gold, however (thus giving gold an important role in the â€Å"empowerment† of women in India). The distinction between gold and commodities is important. Gold has maintained its value in after-inflation terms over the long run, while commodities have declined. Some analysts like to think of gold as a â€Å"currency without a country’. It is an internationally recognized asset that is not dependent upon any government’s promise to pay. This is an important feature when comparing gold to conventional diversifiers like T-bills or bonds, which unlike gold, do have counter-party risk. SIGNIFICANCE OF GOLD IN INDIAN CULTURE Gold is a precious metal with which man kind has had a long and very intimate relation. Gold is considered as a symbol of purity and good fortune. Most of the gold that the entire world holds lies in India. The main reasons why Indians consider gold as an investment are. ? Gold is considered as equivalent to liquid cash: gold is considered as a security or assets which can be converted in to cash when ever required. Gold is very good investment :due to consistently increasing value, gold is considered as safe and secure investment ? Gold is a goof gift item: it is precious and worthy it is again as gift during wedding birthdays or any other special occasions. It is symbol of prestige and is co nsidered auspicious ? Gold considered as status symbol: Gold is symbolizes wealth. in Indian the weddings, the bride wears jewellary as a symbol of the family status. ? Gold has religious significance : Gold is a symbol of Hindu goddess lakshmi. Gold is bought or gifted on occasions of festivals like Dhanteras Dussera and diwali . ? Gold has great ornamental value: women and gold jewellery are inseparable from each other. Gold ornaments area always in fashion and will never become out of fashion . even the wedding rings are made of gold to mark a long lasting relationship ? Gold : Ancentral property: Gold is passed down from generation to generation as an ancestral property. .Gold producing countries †¢ South Africa †¢ United states †¢ Australia †¢ China †¢ Canada †¢ Russia †¢ Indonesia †¢ Peru †¢ Uzbekistan †¢ Papua new guinea †¢ Ghana †¢ Brazil †¢ Chile †¢ Philippines †¢ Mali †¢ Mexico †¢ Argentina †¢ Kyrgyz tan †¢ Zimbabwe †¢ Colombia The largest producer of Gold is South Africa. It accounts for an estimated 16. 5 million ounces of Gold annually in the next 3 year: and produces almost 20 percent of the world’s bullion. Hopping to control its declining production trend due to the extended weakness in the price of Gold in recent years. The South African Gold industry is working in the direction to lower its production costs and boost productivity. The second largest producer of gold is united states. It accounts for an estimated 10. 4 million ounces of Gold annually by 2001 and produces about 12. 5% of the world’ Gold supply Due to the expansion US Mining operations. And because of the reduced profitability due to the low price of Gold. Reduction in mine production is expected by 9% by the US during the next 3 years the third largest producer of gold is Australia with an estimated 9. 6 million ounces annual production by 2001. Nearly 45% of the world gold supply was produced by the top 3 producing nations Latin America (Mexico, Peru, Chile and Brazil) and the Far East producer are accepted to increases production in the next three years. Though these countries add up to a very a small shares in the world’s totally supply there production increase will counter act some of the production cuts made up by the top 3 big producers Current Scenario in Indian Commodity Market Need of commodity derivatives for India India is among top 5 producers of most of the commodities, in addition to being a major consumer of bullion and energy products. Agriculture contributes about 22% GDP of Indian economy. It employees around 57% of the labor force on total of 163 million hectors of land Agriculture sector is an important factor in achieving a GDP growth of 8-10%. All this indicates hat Indian can be promoted as a major centre for trading of commodity derivatives. INDIAN COMMODITY MARKET TRADING AND EXHANGES ? MCX: MULTI COMMODITY EXHANGE ? NCDEX: NATIONAL COMMODITY AND DERIVATIES EXHANGE ? NSEL: NATIONAL SPOT EXHANGE LTD ? NMCE: NATIONAL METAL AND COMMISSION EXHANGE MULTI COMMODITY EXCHANGE – MCX Multi commodity exchange is a commodity exchange based in Mumbai, the financial capital of India. The MCX is a demutualized electronic multi commodity futures exchange, and enables future trading of various agricultural and non agricultural commodities such as Metals, Pulses, Oils, Fiber, Energy, Petrochemicals, Plantations, Cereals, Bullion and Spices etc. As on 31st of December 2007, the exchange was offering futures trading in 55 different commodities. Established in November 2003 by Financial Technologies, the MCX hold a permanent recognition issued by government of India. Pattern on multi commodity exchange (MCX) MCX is currently largest commodity exchange in the country in terms of trade volumes, further it has even become the third largest in bullion and second largest in silver future trading in the world. Coming to trade pattern, though there are about 100 commodities trade on MCX, only 3 or 4 commodities contribute for more than 80 percent of total trade volume. As per recent data the largely trade commodities are Gold, Silver, Energy and base Metals. Incidentally the futures trends of these commodities are mainly driven by international futures prices rather than the changes in domestic demand-supply and hence, the price signals largely reflect international scenario. Among agriculture commodities major volume contributors include Gur, Urad, Mentha oil etc. whose market sizes are considerably small making then vulnerable to manipulations. NATIONAL COMMODITY AND DERIVATIVES EXCHANGE LTD – NCDEX The second largest commodity exchange in the country after MCX. However the major volume contributors on NCDEX are agricultural commodity but most of them have common inherent problem of small market size, which is making them vulnerable to market manipulations and over speculation. About 60% trade on NCDEX comes from guar seed, chana and urad (narrow commodities as specified by FMC). National Commodity and Derivatives Exchange Ltd (NCDEX) is a technology driven commodity exchange. It is a public limited company registered under the Companies Act, 1956 with the Register of companies, Maharashtra in Mumbai on April 23, 2003. it has an independent Board of Directors and professionals not having any vested in commodity market. It has been launched to provide a world-class commodity exchange platform for market participants to trade in a wide spectrum of commodity derivatives driven by best global practices, professionalism and transparency. In December 2003, the National Commodity and Derivatives Exchange Ltd (NCDEX) launched futures trading in nine major commodities. To begin with contracts in Gold, Silver, Cotton, Soya bean, Soya oil, Rape/ Mustard seed, Rapeseed oil, Crude palm, and RBD palmolein are being offered. National Multi Commodity Exchange (NMCE) NMCE is third national level futures exchange that has been largely trading in agricultural commodities. Trade on NMCE had considerable proportion of commodities with big market size as jute rubber etc. But, in subsequent period, the pattern has changed and slowly moved towards commodities with small market size or narrow commodities. Analysis of volume contributions on three major national commodity exchanges reveled the following pattern, major volume contributors. Majority of trade has been concentrated in few commodities that are ? Non Agricultural Commodities ( bullion, metals and energy) ? Agricultural commodities with small market size ( or narrow commodities) like guar, urad, menthe etc The commodity markets are being classified as following types of commodities. 1. Agricultural products. 2. Precious metals. 3. Other metals. 4. Energy. GENERAL CHARACTERISTICS OF GOLD: ? Gold is primarily a monetary asset and partly a commodity. ? More than two-thirds of gold’s total accumulated holdings relate to â€Å"value for investment† with central bank reserves, private players and high-carat jewellery. Less than one-third of gold’s total accumulated holdings is a â€Å"commodity† for jewellery in western markets and usage in industry. CHARACTERISTICS OF GOLD MARKET: ? Gold market is highl y liquid and gold held by central banks and other major institutions and retail jewellery keep coming back to the market. ? Due to large stocks of gold as against its demand, it is argued that the core driver of the real price of gold is stock equilibrium rather than flow equilibrium. ? Effective Portfolio Diversifier: this phrase summarizes the usefulness of gold in terms of â€Å"Modern Portfolio Theory†, a strategy which is utilized by many investment managers today. Using this approach, gold can be used as portfolio diversifier to improve investment performance. Effective Diversification During â€Å"Stress† Periods: Traditional methods of portfolio diversification often fail when they are most needed-that is, during periods of financial â€Å"stress†(instability). On these occasions, the correlations and volatilities of return for most asset classes(including traditional diversifiers such as bonds and alternative assets)increase, thus reducing the intended â€Å"cushioning† effect of diversified portfolio. INDIAN GOLD MARKET: ? Gold is valued in India as savings and investment vehicle and is the second preferred investment after bank deposits. ? India is the world’s largest consumer of gold in jewellery and in investment. In July 1997 the RBI authorized the commercial banks to import gold for sale or loan to jewellers and exporters. ? The gold hoarding tendency is well ingrained in Indian society. ? Domestic consumption is dictated by monsoon, harvest and marriage season. Indian jewellery off take is sensitive to price increases and even more so to the volatility. ? In the cities gold is facing competition from the stock market and a wide range of consumer goods. ? Facilities for refining, assaying, making them into standard bars in India, as compared to the rest of the world, are insignificant, both qualitatively and quantitatively. GOLD MARKET MOVING FACTORS: ? Above ground supply from sales by central banks, reclaimed scrape and official gold loans. Producer/miner hedging interest. ? World macro economic factors-US Dollar, interest rate. ? Comparative returns on stock markets. ? Domestic demand based on monsoon and agricultural output. IMPORTANT WORLD GOLD MARKETS: ? London is the biggest as well as the oldest gold market in the world. ? Mumbai under India’s liberalized gold regime. ? New York as the home of futures trading. ? Zurich as a physical turntable. ? Istanbul, Dubai, Singapore and Hong Kong as doorways to important consuming regions. ? Tokyo was TOCOM sets the mood of Japan. Headquartered in Mumbai, Multi Commodity Exchange of India Ltd (MCX) is a state-of-the-art electronic commodity futures exchange. The demutualised Exchange set up by Financial Technologies (India) Ltd (FTIL) has permanent recognition from the Government of India to facilitate online trading, and clearing and settlement operations for commodity futures across the country. Having started operations in November 2003, today, MCX holds a market share of over 80% of the Indian commodity futures market, and has more than 2000 registered members operating through over 100,000 trader work stations, across India. The Exchange has also emerged as the sixth largest and amongst the fastest growing commodity futures exchange in the world, in terms of the number of contracts traded in of the number of contracts traded in 2009. MCX offers more than 40 commodities across various segments such as bullion, ferrous and non-ferrous metals, and a number of agric-commodities on its platform. The Exchange is the world’s largest exchange in Silver, the second largest in Gold, Copper and Natural Gas and the third largest in Crude Oil futures, with respect to the number of futures contracts traded. The Exchange strives to be at the forefront of developments in the commodities futures industry and has forged strategic alliances with various leading International Exchanges, including Euro next-LIFFE, London Metal Exchange (LME), New York Mercantile Exchange, Shanghai Futures Exchange (SHFE), Sydney Futures Exchange, The Agricultural Futures Exchange of Thailand (AFET), among others. For MCX, staying connected to the grassroots is imperative. Its domestic alliances aid in improving ethical standards and providing services and facilities for overall improvement of the commodity futures market. EXCHANGE-TRADED GOLD: GOLD-BACKED SECURITIES Gold is traded in the form of securities on stock exchange in Australia. France, Hong Kong, Japan, Mexico, Singapore, South Africa, Switzerland, Turkey, the United Kingdom and the United States. By design, these forms of securitized gold investment, all regulated financial products, are generally referred to as Exchange Traded Commodities or Exchange Traded Funds (ETFs), and are expected to track the gold price almost perfectly. Unlike derivative products, the securities are 100% backed by physical gold held mainly in allocation form. These securities have had a major impact on the gold market, representing an annual average of 32% of identifiable investment and 6. 5% of total physical demand over the 5 years to 2008. Financial advisors and other investment professionals can provide further details about these products. FUTURES AND OPTIONS GOLD FUTURES Gold futures contracts are firm commitments to make or take delivery of a specified quantity and purity of gold on a prescribed date at an agreed price. The initial margin – or cash deposit paid to the broker – is only a fraction of the price of the gold underlying the contract. That means investors can achieve notional ownership of a value of gold considerably greater than their initial cash outlay. While this leverage can be the key to significant trading profits, it can also give rise to equally significant losses in the event of an adverse movement in the gold price. Futures prices are determined by the market’s perception of what the carrying costs – including the interest cost of borrowing gold plus insurance and storage charges -ought to be at any one time. The futures price is usually higher than the spot price for gold. Futures contracts are traded on regulated commodity exchanges. The largest are the New York Mercantile Exchange Comex Division (recently rebranded CME Globex, after a merger between Chicago Mercantile Exchange and NYMEX), the Chicago Board of Trade (part of CME) and the Tokyo Commodity Exchange. Gold futures are also traded in India a Dubai. The Commodity Futures Trading commission provides extensive reports on derivatives trading in the United States. Tradable commodity indices are based on fully collateralized baskets of long-only commodity futures, all of which include a small allocation to gold. GOLD OPTIONS These give the holder the right, but not the obligation, to buy (‘call’ option) or sell (‘put’ option) a specified quantity of gold at a predetermined price by an agreed date. The cost of such an option depends on the current spot price of gold, the level of the pre-agreed price (the ‘strike price’), interest rates, the anticipated volatility of the gold price and the period remaining until the agreed date. The higher the strike price, the less expensive a call option and the more expensive a put option. Like futures contracts, buying gold options can give the holder substantial leverage. Where the strike price is not achieved, there is no point in exercising the option and the holder’s loss is limited to the premium initially paid for the option. Like shares, both futures and options can be traded through brokers. Gold price Fluctuation: Responsible factors Gold has widely used throughout the world as a vehicle of monetary exchange, as an investment, use in jewelry, medicine, the food and drink also. Gold provided the independent of states, currencies, productivity and credit worthiness. Many experts advice to the private investors that they do 5 to 10 % their investment in the gold because regular purchase of gold and silver coins helps to protect the smaller investor against price and currency fluctuation. Gold has always been prized as precious and valuable. It does not deteriorate. Gold is also maintained the liquidity in our portfolio because gold is traded around the world. With gold we can possess the international currency which we can sold around the world at any time. This table shows the gold price fluctuation. [pic] Table shows the gold price fluctuation In the recent scenario there are various issues and factor responsible for the gold price fluctuation. Increasing deficit in the balance of trade in the united states. ? The declining production of some gold producing countries the major gold producing company Africa, Canada, Australia, china, Philippines. ? Central bank and international monetary fund also play the major role in gold fluctuation. It is g enerally accepted that interest are closely related to the gold price. As the interest rate rise the general tendency is for the gold price, which earn no interest to fall and rates dip for gold price to rise. ? At the end of 2008 financial crisis captured all the global market, a trend start to develop of regular investor allocating a certain amount of their portfolio into gold. The most popular reason to own gold is as hedge against the inflation. ? From late 2009 Fears of Sovereign debt crises developed among the investors as a result rising the private and government debt levels around the world together with the wave of downgrading of government debt in some European states. The crises have major impact on several European countries, most notably on Greece, Ireland, Italy, Portugal and Spain. Several other factors which are responsible to pushes the gold prices upward political unrest and war monetary expansion, economic misbalance because of these reasons people lose their faith in the value of their currency and they invest into the gold as permanent or a fixed assets. [pic] How to cite Fluctuation of Gold Price, Essay examples

The Importance of Internships free essay sample

Growing up in school, students are constantly reminded that a college education is necessary to make a decent salary. Over the years, it has become evident to many young adults that this statement is indeed true. However, as the need for jobs increases, so does the necessity of being more competitive in a work field. Since our generation has grown up knowing that graduating from college is a necessity, a college education is no longer enough to be competitive in the job market; therefore, our generation has given birth to a new requirement to find the right job after college. This requirement is known as an internship. Despite the fact that not many internship programs pay their students, an internship is an essential element for a student’s career in today’s society. The skills and opportunities attained after having participated in an internship program definitely outweigh any downside to any part of the program. College is a place where students become prepared for many aspects of life. Pastor Ricky Torres made the following statement on night bus once: â€Å"You must be ready for moments in your life where preparation and opportunity cross paths. If you’re not prepared, you will miss great opportunities that only come by once.† One aspect in life which must be well prepared is networking. The more contacts a person has, the higher the chances of that person getting what he needs. â€Å"College internships are a resource and the ultimate social network.†1 When a student joins an internship program, he is joining a nexus of connections that will last him for a lifetime. â€Å"Internships are mutual beneficial relationships.† 2 The intern gets an opportunity to look into the real world pertaining to his career, while the employer gets a chance to look for the brightest and hardest working members in the program. Many times in life, it doesnt necessarily come down to â€Å"how much you know† but â€Å"who you know†. Internships provide the chance to get to know many important people in the area that best interest a student. Internships secure a successful way to find employment. For example, the majority of the young men that graduate from Hyles-Anderson College end up interning for their home pastors. Interns return home and eventually become  Music Directors, Assistant Pastors, School Teachers, or Bus Directors. However, most of these interns usually receive little to no pay at all when they first begin working for their home church. This is indeed one of the most criticized downsides to many internship programs. Nearly 50% of all Internships in the U.S are unpaid and 85% of graduates are actually willing to intern for free.3 Critics believe that colleges and companies are constantly pushing students to join internship programs because these companies save millions of dollars annually by â€Å"hiring† interns. Although this may be true, most graduates that enter an intern program finish the internship receiving a highly coveted job offer. In the other hand, a great number of graduates that don’t have the tool of an internship network usually leave college and cannot find a job. These graduates put up with having to wander from one job to another while the jobs usually have nothing to do with their field of study. Students who are willing to sacrifice a couple months of salary usually end up winning because they find a well-fitting and well-paid job in the end. Most internships equip members with necessary experience in their field of study. â€Å"The dilemma new graduates most often face is that they’ve got fine academic training but no hard experience.† 4 Employers usually look for applicants who have hands-on experience. When very few people are willing to take the risk of hiring a complete rookie, internship programs are designed for this matter. Internships provide students with great experience and references to add to their resumes. Graduates are also able to add themselves to a real work force without having to engage in commitment with a company or an employer. That itself is enough to relieve unnecessary stress on anyone! Not only are these programs beneficial for interns, but for employers as well. Companies can be sure that interns are dedicated and truly interested in the field that they are working in. There are many people who are currently working in fields where they never thought they would work. Their plans in life didn’t work out the way they wanted and they are now living under what they once labeled â€Å"Plan B†. A good example of this can be found in a chapter from the book To Become a Teacher. â€Å"When I asked why he wanted to teach and, more specifically, why  he wanted to teach young children, the young man quickly responded. â€Å"Oh, I’ve always heard that its good to pick up some teaching credits. The early childhood education program looked doable [easy enough, I quickly interpreted] with my engineering courses. Anyway, if all else fails,† he continued, â€Å"I could always fall back on teaching.† How I wish that this young man’s story was an exception† 5 Internships are a way to prevent situations like these. Employers can see who really wants to work in a department and if they can’t find anyone fit for the job, they can at least see who has the potential and who doesnt. A person who doesn’t intern after college is truly missing out on a chance to take his career on a test-run. Internships are indeed excellent and rewarding ways to gain hands-on experience. Interns have the opportunity to meet and network with many people who will provide help and references along their career. Although internship programs may not always pay their students, today’s competitive work force demands graduates to be highly equipped for their work field. The skills and opportunities attained from an internship program are innumerable. If anyone is struggling to decide which internship to join, they should see their school advisor or simply research online. Great opportunities for success are definitely available, the question is: â€Å"How competitive do graduates want to be?†.