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Economy watch

As the US subprime crisis spooked the world’s equity markets, gold, a traditional safe haven asset, moved sharply up and touched an alltime high of $1,038 (Rs 41,520) on March 17 this year, but has corrected since then. This makes gold more afforadble for people, especially in this part of the world.

     Print Edition: May 4, 2008

Gold prices
Status: $906 (Rs 36,240) per ounce on April 9, 2008

 Impact: As the US subprime crisis spooked the world’s equity markets, gold, a traditional safe haven asset, moved sharply up and touched an alltime high of $1,038 (Rs 41,520) on March 17 this year, but has corrected since then. This makes gold more afforadble for people, especially in this part of the world.











Insurance premiums
Status:
Rs 2,935 crore in February 2008

 Impact: The total premium collected by the insurance sector fell from Rs 3,124 crore in January to Rs 2,935 crore the following month, mainly due to the panic in the stock market. If the stock market continues to slide for some more time, the life insurance industry may witness a slowdown.










Compiled by Anand Adhikari

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