Market nervous about the Brexit issue: I think definitely Brexit will be part of the issue. We will see the result next week on that. It is fairly uncertain as to what is going to happen there but I do not think it will be the only thing. We had the Bank of Japan (BoJ) meeting and Fed meeting recently this week. The Fed a bit more dovish; they have reduced their forecast for what is going to happen this year but next year and into the future at least. I think a lot of people might take this as a signal that bad news in the US economy is simply straight bad news; the recovery isn\'t quite going as fast as expected. For the BoJ, I was thinking that there is still the worry that the BoJ is running out of options, a lot of people are expecting the BoJ to make a move when they meet again on July but a lot of uncertainty, a lot of poor data coming in just to show that market is a bit worried, just not the Brexit issue as well but there are other issues going on too.

View on Japanese yen: I do think it might appreciate more as it depends on any further signal from the Bank of Japan. It also depends on any efforts on the government of Japan to try and make some signals about weakening the yen. I do think it might still go further. We will still wait and see what happens at the July meeting. At the moment I do not think that rise in yen is positive for Japan but I do think that it might still rise further.

View on India in global context: I do think India is somewhat insulated from some of theissues facing everybody else. How even with the Brexit issue coming, I do think India still might be affected maybe not as much as some of the other countries with more ties to what is happening in Euro and UK, but India still somewhat affected but probably not as much as some of the other Asian countries where Europe and UK is perhaps a much bigger trading partner.

UK building its gold reserves : The latest Fed comment about lowering their projections in the future, so interest rates are going to be lower for longer for the US and especially considering the uncertainty everywhere else. I would think that in this short-term at the moment gold will rise. I think it will be favorable for investors since we are dealing with so much uncertainty. There is very little chance of any further tightening from the US and most of the other major markets. Looking at the US, July rate hike, I do not think it is totally impossible but based on what has happened so far, it is quite unlikely.