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Gold climbs above $1,240/oz as European stocks retreat LONDON: Gold snapped two days of losses to rise on Monday as renewed weakness in European stocks boosted interest in the metal as an alternative asset, though a tentative recovery in risk appetite on other markets limited its gains.The metal rebounded sharply after falling to its lowest in over a year earlier this month, as jitters over growth prompted stock markets to sell off aggressively.A bounce in equities after upbeat housing and consumer sentiment data on Friday helped take the shine off that recovery, but gold's subsequent move lower proved temporary.Spot gold was up 0.3 percent at $1,241.31 an ounce at 1015 GMT, while US gold futures for April delivery were up $2.90 an ounce at $1,241.90."It's very much what's happening in the European equity markets, what's happening with the dollar, that's driving gold," Mitsubishi analyst Jonathan Butler said."Maybe there's a re-rating of risk appetite going on... the prospect of ...


Copper slips on worries over rising stocks, China economy SYDNEY: London copper futures fell on Monday after hitting their lowest levels in six months in the previous session, hurt by worries over rising stocks, China's economic growth and the impending end of US monetary stimulus.Copper has some of the weakest fundamentals among base metals as a wave of fresh supply works its way into the market.Traders said expectations that copper would benefit from strong US economic data and Wall Street's rally on Friday - ...

LME to offer more electronic liquidity on monthly dates LONDON: The London Metal Exchange (LME) plans to offer more liquidity on on its electronic platform to attract more investment from speculators and funds, a top official said on Monday.The world's biggest and oldest industrial metals market will soon release proposals about adding liquidity on the so-called "Third Wednesday" contract expiration dates, Matthew Chamberlain, head of business development, told a seminar at the start of LME Week."We will shortly be going out to the market ...

Saudi August oil exports fall to lowest in three years DUBAI: Saudi crude exports fell in August for the fourth month in a row to their lowest levels in three years, while volumes used by local refineries rose to a record high, official data showed on Monday.The world's top oil exporter and OPEC heavyweight exported 6.663 million barrels per day in August, down from 6.989 million bpd in July and 6.946 million bpd in June, according to data published by the Joint Organisations Data Initiative ...

NY coffee to fall to $2.0605 SINGAPORE: New York December coffee is expected to drop to $2.0605 per lb, as it has broken a support at $2.1305.The support was provided by the 76.4 percent Fibonacci projection level of an upward wave c, working also as a neckline of a triple-top that formed around $2.2440. The next support will be at $2.0605, the 61.8 percent projection level, a break below which will open the way towards $2.0040, the 50 percent level.A break ...

NY cocoa neutral in $3,064-$3,132 range SINGAPORE: New York December cocoa looks neutral in a range of $3,064-$3,132 per tonne, and an escape will point a direction. The range has been formed by the 23.6 percent and the 61.8 percent Fibonacci projection levels of an upward wave c that developed from the Oct. 14 low of $3,022. A rise above $3,132 will signal the extension of the wave c towards $3,176, the 86.4 percent projection level, while a drop below $3,064 ...

CBOT corn targets $3.41-3/4 SINGAPORE: CBOT December corn may break a support at $3.45-1/2 per bushel and fall more towards $3.41-3/4.The support is provided by the 50 percent Fibonacci projection level of an upward wave c that developed from the Oct. 13 low of $3.30-1/2, temporarily blocking the way towards the 38.2 percent projection level at $3.41-3/4. Corn failed to break the support at its first attempt and may succeed at its current attempt.A rise to $3.46 could be ...


 



 
Index Closing Chg%
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
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Imports $4.718 bln
WeeklyOctober 10, 2014
Reserves $13.401 bln