Gold Price Hits Record At $1,600

The price of gold jumped above $1,600 (£1,000) an ounce for the first time as debt worries in the US and Europe continued to trouble investors.

The precious metal rose $12.30 to settle at $1,602 an ounce in London trading.

Monday capped a record breaking rally – 11 straight days of gains.

Gold is considered a safe investment and usually gains at times of global economic uncertainty.

Silver also rallied more than 3% to a two month high, above $40 an ounce.

“Gold hit another milestone… at $1,600 as investors lose confidence in the ability of politicians to get a grip with the debt problems weighing down on sentiment,” said Michael Hewson from CMC Markets, a trading group.

“More advances look likely,” he said.
The record breaking price comes ahead of Thursday’s summit of eurozone leaders in Brussels where they will once again try to contain the growing debt crisis.

Investors are concerned that Greece may default on its debt, and countries such as Italy and Spain, who are also struggling with high debt levels, will get pulled into the crisis.

US default?

Meanwhile in the US politicians are struggling to reach an agreement on a deficit reduction plan in time to avoid a debt default before the deadline of 2 August.

Nicholas Brooks, the head of investment strategy at ETF Securities, told the BBC investors are worried about the American economy.

“I think the concern is that if we see another round of so called quantitative easing, it’s basically de-basing the US dollar, it’s putting new dollars into the system and that of course makes investors concerned about holding onto US dollars.”

“When they look at the alternative, the euro and the issues that are now affecting the euro, they look for alternatives and gold of course is one of the first places they go, along with other so called hard commodities,” he said.

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Government Has Drafted Biological Weapons Bill July 19, 2011

KUALA LUMPUR — The government has drafted a biological weapons bill that will be a part of Malaysia’s legislative framework in ensuring the effective implementation of biological weapons convention, Datuk Seri Najib Tun Razak said.

The prime minister said that the government was confident that the resulting legal framework would facilitate a secure and safe regime in handling hazardous biological materials.

At the same time, it would ensure that the requirements did not short change and demotivate life sciences researchers, advocates and business entities in the country, he said in his speech at the opening of the three-day International Congress on Biosecurity, Biosafety and Biodefence 2011, here today.

His text of speech was read out by Defence Minister Datuk Seri Dr Ahmad Zahid Hamidi.

Najib also said the government was also seeking input and feedback on how it could accelerate biotechnology development while ensuring that biosafety and biosecurity concerns were addressed and taken into account.

He said that besides detection of disease outbreak as well as up-to-date laboratory analysis, emergency response and communication systems, there was also a need to put in place international collaboration to effectively combat bio threats.

He admitted that the country’s bio defence science and response capabilities needed improvements, saying there was a “striking insufficiency in vaccines and therapeutics.”

Najib also called on countries to identify appropriate methods, plans and procedures in establishing and executing defensive measures against either natural occurrence or attacks using biological agents.

“Bio defence responsiveness is a national and international security matter as bio threat could take place at any time,” he noted, adding that although no state had used a biological weapon in battle since the end of World War II, a number of subnational groups had attempted to acquire and use such weapons in attacks against civilians.

Meanwhile, Ahmad Zahid told reporters that the Defence Ministry would spearhead the drafting of the biological weapons bill in collaboration with the Science and Technology Research Institute for Defence (Stride).

Stride would gather information from various agencies, including the Health Ministry, he said.

The proposed legislation would be used to prevent abuse of such weapons by any group, he said, adding that the ministry might be able to table the bill in the Dewan Rakyat by middle of next year.

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1 Million Signature Support 1 Malaysia?

So,they want to intimidate or try to express the BERSIH 2.0 is a bad image to RAKYAT? Did they realized such act express the true feeling of RAKYAT? RAKYAT are no blind and we all know BN will use any method to accomplish their mission and by any way. 



KUALA LUMPUR - Malaysian Indian Muslim Congress (Kimma) today launched acollection of one million signatures campaign people throughout the country to support1Malaysia.


Its president, Senator Datuk Syed Ibrahim Abdul Kader said the campaign was launched to support 1Malaysia simultaneously in 212 locations and will end at 6pm today.


"The response of the public of this campaign is very encouraging and they are not forced to signing as a show of support for 1Malaysia.


"Yesterday alone we can more than 100,000 signatures in Jalan Masjid India and the National Stadium in Bukit Jalil and today it is launching this campaign," he said at the launch of the campaign by the Deputy Minister in the Prime Minister, Datuk AhmadMaslan here today.


Syed Ibrahim said Kimma confident will be able to obtain one million signatures and the signature is expected to be submitted to the Prime Minister, Datuk Seri Najib TunRazak at a ceremony to be held later.


Obviously, the purpose Kimma do so to show the way and help the majority of Malaysians who wish to express their support for 1Malaysia,


Meanwhile, Ahmad said, the campaign provides an opportunity for people to support them in peace without having to disrupt any  public gathering.


He said the signing represents a spirited they want unity, stability, peace and prosperity remains strong and continues to be supported by 1Malaysia.

He added that one million people will choose the right channels to deliver the views,criticisms, and support them on things than just 6,000 people participating in illegal gatherings recently.

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Socso Proposes Increase Contributions

Is it relevant with the Malaysia economy right now?



KUALA LUMPUR - The Social Security Organisation (Socso) to pay compensation amounting to RM2 billion to the employees last year, said Human Resources MinisterDatuk Dr. S. Subramaniam.

According to him, including the RM950 million compensation for the disability pension(disability) and survivors' pension (death) and RM500 million paid for the other casesrelated to accidents at work.


He said one reason for last year's compensation is a factor that workers receivelifetime pensions for accidents up to 70 and 75 years.


"Socso had to pay compensation to employees who receive a pension of an accident intheir lifetime and it is among the factors contributing to the total contributions Socsolow last year.


"So we are doing studies to increase the amount of contributions The Social Security Organisation (Socso) to offset the amount of compensation to employees," he said.


He was speaking at the Opening Conference and Exhibition on Occupational Safety and Health (COSH 2011) here today.

Elaborating, Dr Subramaniam said among the proposals raise contributions fromemployers and employees is to add additional services in the next year.

He added that the total jcaruman Socso imposed on employers and employees in the country is still low compared to workers in developed countries accounted for between20 to 30 percent of monthly income.

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