first_imgInvestors looking to buy gold at current levels should maintain some caution, as many analysts predict metal prices to head lower by year-end before seeing a recovery next year.”Gold is still extremely vulnerable during 2015 but the 2016 to 2020 period could be supportive for gold,” MarketWatch quoted a report by Jon Bergtheil, analyst at Citi Bank.Prices of gold have been under pressure for the past two years as the ultra-loose monetary policies across major economies failed to push up inflation levels. Investors flock to yellow metal as a hedge against inflation.”Money-printing had almost always resulted in inflation but in today’s excess global production capacity environment and with the oil price having collapsed, that inflation has been deferred,” Bergtheil said.Crude oil prices, which fell by 50% since June last year on oversupply issues, led to a sharp decline in inflation rates across many nations. Besides, oil prices are estimated to remain under pressure in the coming months. As gold prices move in opposite direction to the U.S. dollar rate, continued appreciation of the greenback on the expectations of interest rate hike by the Federal Reserve is likely to put some pressure on the yellow metal prices going forward.Despite some weakness in the economy recently, most of the U.S. central bank committee members are still in favour of raising rates sooner rather than later.Gold prices are expected to extend their decline reaching a five-year low of $1,100 an ounce during this year before seeing a rebound in 2016 underpinned by a demand recovery in Asian countries, thebulliondesk said citing a report by GFMS Thomson Reuters.The report said any prospects for gold prices to climb up would be hindered by a rise in relative health of the U.S. economy.However, from next year onwards, the prices are estimated to find some support due to a demand recovery in India and China, the world’s largest gold consumers.Demand from these countries has been weak so far this year. While Beijing’s anti-corruption moves reduced the appetite for metal in China, bad weather conditions reduced the demand for gold in rural areas of India. Rural population accounts for two-thirds of gold demand in India.last_img read more

first_imgIndira Gandhi National Centre for the Arts raised the curtain for ARTH – Art for the earth on July 5 at the IGNCA, CV Mess, Janpath, New Delhi.The chief guest for the inauguration ceremony was the State Minister of culture, environment, forest and climate change, Dr Mahesh Sharma.The exhibition which is up for display until October 22 – is the first its kind public art project on the environment by one of India’s leading contemporary artists – Manav Gupta. Also Read – Add new books to your shelfComprising of “Excavations in Hymns of Clay”– a suite of environmental art installations by the artist, weaving all of them with a story-line and poetry. ‘Arth’ is an evolving, site-specific and dynamic engagement.As a public art project, the artist has tried to deploy the quintessentially Indian potter’s produce of clay objects such as the earthen lamps (diyas), local cigar (chilam), earthen cups (kullar), with the idea to transform their individual identity into metaphors and idioms of sustainability, context, perception and treatment. Also Read – Over 2 hours screen time daily will make your kids impulsiveThe clay objects and other items displayed in the exhibition will stun the viewer with the artist’s originality of thought as he produces a cutting-edge contemporary language whose global vocabulary is derived from the “local”.Emotive content like that of an epic story, Manav’s statement is dipped gently into the essence of the Indian Vedic practices to subtly bring to light the repository of solutions that the ancient way of life could offer in today’s context of sustainable development and current issues around rivers like the Ganga. Whether it be the latest ‘Rain’ or the ‘River waterfront’ ‘Time Machine’, ‘Bee-hive Garden ‘, ‘River Bed of Love’, or the ‘Noah’s Ark’, the fragility of clay juxtaposed with the limitlessness of the “cup of life” question the paradigm of time and human engagement with it in today’s rapidly mechanized and constructed consumerist engagement with earth’s resources.The works, conceptualised, created and constructed by the artist while taking into consideration the venue – is a sensitive natural interface with the ambience, seeking to engage fresh and locally relevant dialogues and questions that audiences can have with the art and within themselves.last_img read more

first_imgThe Japanese automaker giant, Toyota Motor Corp. will join hands with Uber to work collectively on autonomous autos. Toyota will make an investment of about $500 million and will value Uber at $72 billion to get self-driving cars on the road. Toyota aims to improve security and decrease transportation prices with this initiative. As for Uber, it’s a chance to redeem itself in the budding autonomous transportation sector. As a part of the alliance, Toyota will manufacture Sienna vehicles, which will be equipped with Uber’s self-driving technology, and another company will operate the fleet, said a source familiar with the project. The third partner has yet to be identified. Consumers can expect “mass-production” of self-driving vehicles that would be deployed on Uber’s ride sharing network. Source: After Uber withdrew its self-driving cars owing to the autonomous Uber SUV that killed a pedestrian in a fatal crash in Tempe, Arizona, in March, the investment is a ray of hope for the company and its users. With this, Uber consumers’ growing apprehension that Uber is pulling out of the self-driving car space will be finally put to rest. As for the Uber’s investors, this collaboration will come as a relief especially after it was reported earlier this month that Uber was sinking around $1m-$2m into its autonomy work every single day thanks to the fatal crash and the expensive lawsuit that followed. This $500 billion project is expected to be piloted in 2021. The potential of self-driving cars to power car-sharing services represents a major challenge in an industry dominated by individual car ownership. For Toyota, it presents an opportunity to reinvent itself from a car maker to a mobility platform. “This agreement and investment marks an important milestone in our transformation to a mobility company as we help provide a path for safe and secure expansion of mobility services like ride-sharing.”-Shigeki Tomoyama, executive vice president of Toyota Motor Corporation Toyota has been lagging behind in the scene of self driving cars, while Uber’s troubled self-driving car efforts are in desperate need of external help. It would, therefore, be interesting to see how this joint collaboration works in favour of both, Toyota and Uber. For more details on this story, head over to Fortune’s coverage of this news. Read Next Apple self-driving cars are back! VoxelNet may drive the autonomous vehicles MIT’s Duckietown Kickstarter project aims to make learning how to program self-driving cars affordable Tesla is building its own AI hardware for self-driving carslast_img read more