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Gold holds below $1,230 as investors stay wary

Gold prices held steady near $1,230 an ounce in Europe on Monday as uncertainty over the outlook for the global economy continued to support investment in the precious metal as a safe store of value. Spot gold was bid at $1,226.60 an ounce at 0939 GMT (5:39 a.m. EDT), against $1,226.95 late in New York on Friday. U.S. gold futures for December delivery eased 90 cents to $1,227.90.

Will Indian festivals help gold?

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Indian gold market this week witnessed some busy business as the festival season is nearing fast. India will celebrate Raksha Bandhan on August 24 and the southern state of Kerala, which is the largest consumer of yellow metal in India, will celebrate Onam on August 23.
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FMC halts Indian banks' gold ETF foray

At a time when China is hurrying to open up its gold bullion sector, India is shying away from allowing banks to invest in Gold exchange-traded funds (ETFs). This has come to light recently as the Forward Markets Commission (FMC), the commodity futures market regulator, suggesting to the Reserve Bank of India (RBI) that banks should not be allowed to invest in gold ETFs.
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GM and and China's SAIC deepen ties

General Motors and China's SAIC Motor Corp deepened their ties to include the joint development of small engines and transmissions as the U.S. automaker seeks to draw on the allure of the fast-growing China market ahead of a highly anticipated IPO.
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Gold firms near 1-1/2 month high

Gold gained on Wednesday, within sight of a 1-1/2 month high hit the previous day, with sentiment underpinned by a rise in ETF holdings and persistent worries about the health of the global economy. Investors shrugged off gains in the Nikkei, which could be short-lived because of the yen's strength against the dollar, while most economic data from the United States pointed to a slowdown in the recovery.
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RIM to give India partial BlackBerry access: source

Research In Motion has assured India of limited access to BlackBerry instant messages by September 1, and promised talks this week on monitoring its more secure corporate email, a government source said on Monday.
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No longer all in the family: Indian businesses step out

When it comes to Indian businesses, The Tata Group is the oldest and best-known: the conglomerate owns the luxury Jaguar car brand, it's made the world's cheapest car, and its chairman, 72-year-old Ratan Tata, oversees an empire that ranges from salt to software.
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BlackBerry to give India partial access: source

Research In Motion has assured Indian authorities of limited access to its Messenger services by September 1 and will hold talks this week on giving access to enterprise mail, a government source said on Monday.
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Clouds over gold's bull run

Will the gold bull run continue? This is the billion dollar question haunting many investors across the globe. There are conflicting reports from various quarters. A report in Press and Journal says that despite a recent dip, the price of gold has still risen by 25% over the past year, by 175% over five years and by a staggering 340% over 10 years.
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BlackBerry assures India on access to services

Research In Motion has promised India a technical solution for decoding encrypted BlackBerry data, a senior official said on Friday, a step that could allay Indian security concerns about the smartphone and avert a shutdown.
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Gold retreats from 1-month high after U.S

Gold retreated from the one-month high it hit in earlier trade as the dollar, European equities and U.S. stock futures all lifted from lows after U.S. retail sales and inflation data. It remained supported by overall jitters over the outlook for the global economy, however, as investors spooked by disappointing U.S. economic data turned to the metal as a safe store of value. Spot gold was bid at $1,213.10 an ounce at 9:06 a.m. EDT, against $1,211.20 late in New York on Thursday. Earlier it rose...
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Wall St. set for lower open after sales data

Wall Street was headed for a lower open on Friday after retail sales data suggested momentum in consumer spending remained limp, heightening concerns about the fragile economic recovery.
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Gold buyers gone in India?

Onset of festival season failed to give a boost to gold demand in India this week with almost all jewelers and gold dealers reporting below average sales across all bullion markets in India. Global bullion market has been expecting a huge demand from India this week for the yellow metals as the country celebrates Raksha Bandhan on August 24, an occasion for Indians to buy gold. Moreover, delaers are expected to refurbish their stocks during this week in anticipation of increased sales during th...
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India: Google, Skype, RIM must meet security needs

India will go after any company, including Google, after cracking down on BlackBerry in its bid to keep the world's fastest growing mobile phone market safe from militants and cyber spying, a government source said on Friday.
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India says Google, Skype, RIM must meet security needs

India will go after any company, including Google, after cracking down on BlackBerry in its quest to keep the world's fastest growing mobile phone market safe from militants and cyber spying, a government source said on Friday.
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India to target Google, Skype messaging next: report

India may shut down Google and Skype Internet-based messaging services over security concerns, the Financial Times reported on Friday, as the government threatened a similar crackdown on BlackBerry services.

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