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Spot gold to approach low of $1,273.06 SINGAPORE: Spot gold is expected to break a support at $1,280 per ounce and then approach the Aug. 21 low of $1,273.06.The metal has broken below a higher support at $1,285, the 23.6 percent Fibonacci retracement on the fall from the Aug. 8 high of $1,322.60 to $1,273.06, the next support will be at the 14.6 percent level of $1,280.A drop below $1,273 is less anticipated, as a high-low bottom or double-bottom may form around this level. Resistance is at $1,292, the 38.2 percent level, a break above which will open the way to $1,304, the 61.8 percent level.The views expressed are his own.No information in this analysis should be considered as being business, financial or legal advice. Each reader should consult his or her own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses. Copyright Reuters, 2014


LME aluminium to peak around $2,129 SINGAPORE: LME aluminium is expected to peak around resistance at $2,129, as a wave C from the May 21 low of $1,754.75 seems to be ending. The resistance is at the 161.8 percent Fibonacci projection level of wave C, which consists of five small waves, with the final wave labelled 5 unfolding towards $2,129. Support is at $2,074, the 138.2 percent level, a break below which will confirm the completion of the wave C and ...

Shanghai copper to approach 50,250 yuan SINGAPORE: Shanghai copper may approach resistance at 50,250 yuan per tonne again as its rebound from the Aug. 29 low of 49,480 yuan seems to have extended.The rebound consists of three waves, with the third wave labelled c travelling towards the starting point of the first wave - the wave a, which is about 50,250 yuan, the 23.6 percent Fibonacci projection level of a bigger wave C.The wave C is far from complete, as a ...

US corn eases for 2nd day as rains boost crop outlook SINGAPORE: Chicago corn futures lost more ground on Tuesday while soybeans were largely unchanged after dropping in the last session, with pressure from rains across the US Midwest renewing hopes of record yields.Wheat fell for a second day as rains are expected to provide moisture to the soil ahead of the winter crop planting in the United States. Chicago Board of Trade December corn dropped 0.4 percent to $3.63-1/4 a bushel by 0256 GMT and ...

Chinese steel, iron ore fall further as traders stay away BEIJING: Chinese steel and iron ore prices fell further on Tuesday, with buyers unconvinced by efforts to tackle a supply glut and worried that weak manufacturing is adding to the damage caused by a property slowdown in the world's top steelmaking nation.A tightened credit environment, which has made it difficult for steel mills to continue producing, is also unlikely to ease after China's major banks revealed an increase in non-performing loans in the first half ...

Palm oil to retest support at 1,920 ringgit SINGAPORE: Palm oil may retest support at 1,920 ringgit per tonne and fall further to 1,890 ringgit, to complete a downtrend that started from the June 25 high of 2,511 ringgit. The trend has been driven by five waves, with the final wave labelled 5 likely to bottom around 1,890 ringgit, the 423.6 percent Fibonacci projection levels of the preceding wave 3. Two descending trendlines point to 1,890 ringgit as well. Resistance is at 1,950 ...

Copper slips after weak China manufacturing data LONDON: Copper prices fell on Monday, under pressure as weak factory data from China raised concerns about the outlook for demand from the world's top metals consumer. Three-month copper on the London Metal Exchange closed down 0.6 percent at $6,942 a tonne after ending August down 1.9 percent its first monthly loss in four months. Volumes were subdued as markets in the United States were shut for the Labor Day holiday. At the close of ...


 



 
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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 $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 02, 2014
Reserves $13.581 bln