Global stock markets on diet amid looming economic crisis

China launches gold vending machine
China launched machines that dispense gold bars. The machine dispenses gold bars weighing up to 2.5 kilograms and work just like the normal automatic teller machines (ATMs). The machines can accept both cash and credit cards. The machine was launched Saturday by the Beijing Agricultural Commercial Bank and a gold trading company. The gold ATMs have been launched by German company TG Gold-Super-Markt and are at present in existence in countries like the United Arab Emirates, Spain and the US. China, already the world's second largest bullion consumer, has installed the country's first gold vend

Oil prices fall below $ 80 amid growing worries for recession, other commodities also fall
US crude price on Friday fell below $ 80 a barrel on concerns about global economic recession. Crude oil prices slid 66 cents to end at $79.85 a barrel on the New York Mercantile Exchange. The oil prices have dropped 9.2 percent during the week. In London, Brent crude for November delivery fell 1.44 percent to close at 103.97 dollars a barrel.
Other commodity prices also tumbled. Coffee futures dropped nearly 8 cents to close at $2.31 a pound.

Copper prices fell nearly 21 cents to close at $3.27 a pound. Cocoa futures dropped $46 to close at $2,634 a ton. In Chicago trading, the price of w

Weekly market overview
India's Nifty started the lower and was hovering around 4900 on Tuesday. As global markets continue to remain weak and RBI has spiked interest rates, Nifty closed at 5084 for the week after global market rallied. The Midcap Index has so far been able to defend the support level of 7000.

At Bombay Stock Exchange BSE PSU index closed at 7731 up 92 points or 1.20 percent. BSE Bankex closed at 11147 up 50 points or 0.45 percent. BSE IT was up 145 points or 2.93 percent and closed at 5095. BSE Capital goods index closed at 12061 down 374 points or 3.01 percent. BSE Auto closed at 8802 up 49 poin

Greek debt crisis engulfs global stock markets, Indian stocks end lower as factory output falls
The Sensex at the Bombay Stock Exchange closed lower 2.2 percent to 16,502 as poor factory output and fear of eurozone debt crisis hit the investor sentiments. Industrial growth projections for the current fiscal will have to be revisited in the wake of "disappointing" pace of expansion in the factory output, which plunged in July to 3.3 pc, Chairman of PMEAC C Rangarajan said. The Nifty at the National Stock Exchange plunged 2.2 percent to 4,947. The BSE Midcap index fell 1.8 percent, and the Smallcap index lost 1.9 percent. The German Economy Minister Philipp Roesler said Europe could no lon

Global stocks continue to recover, Dow, FTSE, DAX, Sensex, Nikkei rise
The Dow Jones industrial average gained 1.8 percent and NASDAQ 2.5 percent with the broader S&P 500 advancing 2 percent during mid day trading at New York. European stocks closed higher with London's FTSE 0.67 percent to close at 5,129. The CAC in Paris gained 1.1 percent to end at 3,084. The DAX index in Frankfurt also advanced 1.1 percent to close at 5,532. In Asia, Tokyo's Nikkei index gained nearly one and one-quarter percent to finish at 8,733. Hong Kong's Hang Seng index rose 2 percent to finish the day's trading at 19,876.
The Sensex at the Bombay Stock Exchange climbed 157 points, or

Indian and Chinese demand for gold grew 38% and 25% respectively during Q2 despite higher prices
Gold’s strong start to the year was reinforced during the second quarter of 2011 where total global gold demand measured 919.8 tonnes (t), worth a near-record US$44.5bn, with broad-based support across all sectors and geographies. Standout markets were India and China, as these two markets accounted for 52% of total bar and coin investment and 55% of global jewellery demand, the World Gold Council said in a statement.

According to the Gold Demand Trends report for Q2 2011, gold demand in the second half of 2011 will remain strong. Despite a higher gold price, Indian and Chinese demand grew