370)this.width=370">Indian demand can be a bit of a balancing factor in the gold equation, showing strength when the price is seen to stabilise - even at higher levels - and weakness when the price surges.
370)this.width=370">The Reserve Bank will have to continue to tighten its monetary policy stance to arrest the runaway inflation numbers, which is expected to harden further in the medium-term on account of the rising commodity prices in international markets.
The pace of tightening, however, should not be aggressive as it may hamper the economic recovery, Societe Generale's thematic research head Veronique Riches-Flores told reporters in
370)this.width=370">Food inflation eased to 16.23 per cent for the week ended May 15 on account of a fall in prices of masur, fruits and vegetables.
Inflation declined by 0.26 percentage point from 16.49 per cent in the previous week.
The fall was mainly owing to a 4 per cent slide in masur prices, 2 per cent fall in prices of fruits and vegetable each, and 0.20 per decline in prices of cereals and pulses over the week.
Non-food articles also saw a decline in prices. Cotton seed prices fell 2 per cent and raw rubber and mustard seed by 1 per cent each.
However, the prices of tea rose by 9 per cent, that of mutton by 5 per cent, and urad and spices by 1 per cent each.
The overall inflation for April stood at 9.59 per cent, moderating slightly from 9.90 per cent in March.
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