IBT Staff Reporter

In an obvious hint to the imminent platinum and palladium supply woes, the JPMorgan Chase said that the metals will witness a huge rise in prices due to the concerns over implementing changes to mining rules in South Africa, which is the largest producer of the metals. Concern about rule changes intensified in recent weeks as Kumba Iron Ore and Lonmin said the government had deprived them of mining rights. The ANC is preparing to discuss mine nationalisation at a congress next month.

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.

U.S. crude oil prices fell below $74 a barrel after this week's feeble U.S. economic data raised doubts about the top oil-consuming nation's ability to use up its highest petroleum inventories in two decades. U.S. crude prices for September fell 73 cents to $73.70 a barrel by 1220 GMT on contract expiry day, continuing a two-session drop.

The euro fell to its lowest against the dollar in more than a month on Friday after comments by a European Central Bank official bolstered the view that euro zone monetary policy would remain loose for months to come.

The Federal Reserve's balance sheet shrank in the latest week, partly due to a decline in its holdings of mortgage-related securities, Fed data released on Thursday showed.

All the signs of a gold boom were visible at the venue of the India International Jewellery Show (IIJS) in Mumbai this week. Even as India gets ready for ushering in the festival season with Raksha Bandhan on August 24, the IIJS provided a perfect start for the gold market in the country.

U.S. crude oil prices hovered below $75 a barrel and near six-week lows after weak U.S. economic data this week raised doubts about the top oil-consuming nation's ability to work through the most ample petroleum inventories in two decades.

The Queensland government will be giving Beyondblue, the national depression initiative a boost of $3.2 million.

Japanese Finance Minister Yoshihiko Noda said on Friday his ministry is communicating with other Group of Seven nations on currencies amid concern the strong yen will further dent the country's slowing economy.

Miriam Schmierer, the oldest Australian who celebrated her 111th birthday on Friday, said faith and her spiritual life are responsible for making her still alive today.

The dollar steadied against the yen on Friday but stayed within reach of a 15-year trough hit last week, after weaker U.S. data prompted investors to sell higher-yielding currencies and stocks on risk aversion.

Crude was steady near a six-week trough below $75 a barrel, after weak U.S. economic data signaled the world's top oil-consuming nation will struggle to work through the most ample petroleum inventories in two decades.

Gold rose on Friday, holding near a 1- month high hit the previous day as worries about a deepening U.S. economic slowdown escalated and helped push up holdings in the ETF for the third consecutive day.

The new transparent sunscreen is being developed by Dr Amanda Barnard and her team from CSIRO, by utilizing nanotechnology.

Gold extended gains in Asian trade Friday as its appeal as a safe haven asset soared on reports of deepening U.S. economic concerns. Gold for immediate delivery was seen trading at $1232.18 an ounce at 12 noon Singapore time while US gold futures for December delivery was at $1,235.47 on the comex division of Nymex.

Asia's time has come as far as bullion market is concerned. Now, London's Dominance of gold bullion dealing worldwide faces a major challenge in the fast-rising Asian jewelry and investment markets.

J.D. Power and Associates cut its U.S. auto sales forecasts for the remainder of 2010 and 2011 as it expects a slow economic recovery

The town of Moama in NSW will temporarily be renamed Motown in November as part of a fundraising and awareness campaign on men's health, the Murray Shire Council announced Friday.

Kerala-based non-banking finance company, Manappuram General Finance & Leasing, is planning to raise around Rs 1,000 crore through a qualified institutional placement (QIP) in the third quarter of the fiscal.

Researchers led by a University of Florida psychologist have found in a study that acetaminophen, an ingredient of painkillers, can relieve not only physical pain but hurt feelings.

As many as hundreds of WA patients who had received treatments from a number of regional hospitals in Northwest of WA breathe a sigh of relief as they have been cleared of any serious infections including HIV and hepatitis following the breach of infection control measures by an anaesthetist.

A breathing instrument for treating asthma that had suppressed appetite and reduced weight of patients is now being marketed as a weight-loss device.

Results indicate substantial loss of fibre mass, force and power in the muscles group translating into a 40 percent reduction in the capacity of an astronaut to do physical work.

A study tracking the development of more than 300 Mexican American children living in the farming region of Salinas Valley has provided another disturbing proof linking exposure to a pesticide - widely used in Australian agriculture - to rising cases of child Attention Deficit Hyperactivity Disorder (ADHD).

A new approach to producing stem cells from human skin called induced pluripotent stem (iPS) cells, without the risk of introducing bothersome foreign DNA has been found by scientists at the University of NSW.

An international team of scientists is close to developing a prototype of a lung scanner that will not expose newborns to radiation and eliminate the need to transfer critically ill infants to a hospital for scanning.

A U.S. study has found that women who drink five or more non-light beers a week have higher risk of acquiring psoriasis, a disfiguring skin disease.

Instead of the typical ab exercise routines that we see so often with crunches, situps, leg lifts, etc... I like to give my readers better options for metabolism-boosting high intensity workouts that work their entire body while also working their abs.

You've been told for decades that saturated fat will kill you. Even medical and health professionals have believed this was a fact