STEEP SHINE: Gold prices have shot up

Skyrocketing gold prices in international markets have virtually halted the import of the yellow metal. Gold touched a five-year high of Rs 4,960 per 10 grams in Mumbai last week while in Delhi and Chennai, prices topped Rs 5,000. This is a sharp jump compared to the modest 4 per cent rise that gold has seen in the past 10 years, from Rs 4,297.63 (for 10 grams) in 1991-92 to Rs 4,473.60 in 2000-1.

Globally, gold prices have surged to a two-year high on the back of aggressive buying in Japan because guarantee on bank deposits is likely to be capped and in the US because of the Enron collapse and low interest rates. But gold has outperformed the stock market in India this year. Since January 1, 2002, while the BSE sensex has gained 7.1 per cent and NSE's Nifty 6.11 per cent, gold has gained 7.8 per cent. India is the world's largest bullion market. In the first half of 2001, gold imports touched 359.3 tonnes, a 34.4 per cent rise from the previous year.

-Malini Goyal

GOLDEN PUMPKIN

BRANDING BAPU: Tushar with a bust of the real Gandhi

The father of the Nation is ubiquitous-his images adorn currency notes and a road in almost every Indian city is named after him. But who owns the Mahatma Gandhi brand? The US-based CMG Worldwide Inc, global marketing agent for over 200 celebrities (including Marilyn Monroe and Malcom X), recently asked the Mahatma's great-grandson Tushar Gandhi for permission to add Bapu to its client list.

Tushar, who once contested the Lok Sabha elections on a Samajwadi Party ticket, issued the agency a provisional no-objection certificate. But he backtracked after protests from veteran Gandhians who envisioned Gandhi action figurines and coffee mugs. Tushar now accuses CMG of acting in haste by putting up the Mahatma's name on its client list. "I don't own the Mahatma Gandhi brand, so how can I sell something I don't own?'' he asks. CMG has since dropped the Mahatma from its list (www.cmgww.com).

Back home, it's Master Tushar who's ended up looking silly.branding bapu? Tushar with a bust of the real Gandhisignposts

SIGNPOSTS

NOMINATED: Lagaan, produced by Aamir Khan and directed by Ashutosh Gowarikar, for the Oscars, in the Best Foreign Language Film category.

FORMED: By the Hurriyat, a parallel "election commission" for Jammu and Kashmir. It includes former Pakistan chief justices Sajjad Ali Shah and Raja Khursheed.named: Harsh Bhasin, as India's next High Commissioner to Pakistan.

DIED: Ale Ahmad Suroor, 91, Urdu author.

APPOINTED: Economist V.R. Panchamukhi, as chairman of the Indian Council of Social Science Research.

DIED: Kalyani Karlekar, 91, educationist, social worker and writer.

DISMISSED: By the Delhi High Court, a plea by card company Archies seeking a stay on demonstrations at its outlets by the Shiv Sena and the VHP on Valentine's Day.