Headlines Today

• GOLD HAVE SUPPORT AT 1280, RESSISTANCE AT 1300
• India inflation in July likely accelerated slightly as a weak rupee more than offset the impact of lower international commodity prices. The wholesale price index likely rose 5.0% on year after a 4.89% increase in June, according to the median estimate in a Dow Jones poll of 13 economists. Estimates vary between 4.65% and 5.30%. Crop damage because of heavy rain this year is also expected to stoke food prices, economists say. The rupee has weakened about 10% since early May on worries of capital outflows as the U.S. economy improves. India has received 17% more rainfall than normal so far in the June-September monsoon. Wholesale inflation data will be released at 0530 GMT Wednesday.     (anant.kala@wsj.com)
• Wires reporting a 7.8 earthquake in Japan.
• In January, jeweller Vihari Sheth was publicizing a ritzy new line of diamond-encrusted designs. Last week, she was arrested at Mumbai airport with nearly $4,00,000 of gold jewellery in her underwear.
• Asian stocks rose, led by health care companies, as investors await the conclusion of a Bank of Japan policy meeting  and Chinese trade data today.
• Australian employers cut payrolls in July as weaker demand discouraged hiring, denting PM Kevin Rudd's bid for a come-from-behind election win.
• Russian billionaire Suleiman Kerimov  is scaling back sponsorship of Anzhi Makhachkala forcing his soccer club to part ways with star players that include striker Sanuel Eto's chairman Konstantin Remchukov said.

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