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Gold up for third day on softer dollar; US rate hike pressure looms SINGAPORE: Gold rose for the third straight day on Thursday on softening dollar and increased tensions between Ukraine and Russia, but the precious metal was under pressure from rallies in equities and the prospect of a US interest rate hike. Higher interest rates would dull the appeal of non-interest-bearing assets such as gold, which was struggling to cross the key resistance of $1,300 an ounce.Gold prices were more than $600 below a record hit in 2011. Gold added 0.56 percent to $1,289.60 an ounce by 0635 GMT, moving away from a two-month low of $1,273.06 hit on Aug. 21. "As far as gold is concerned, the complex has more stacked against it than it has going for it, at least over the short-term," said INTL FCStone analyst Edward Meir. "In this regard, investment and jewellery demand remains weak, although there are indications of a pickup in India," said Meir, referring ...


Palm edges up; higher edible oil supply woes curb gains KUALA LUMPUR: Malaysian palm oil futures edged up in tight trade on Thursday, but stayed under the 2,000-ringgit mark as investors braced for an anticipated surge in rival edible oil supply amid rising palm oil production in the world's top growers.Benchmark prices are languishing near five-year lows and are headed for their biggest monthly drop since September 2012, as worries of bumper crops of US soybeans and disappointing demand for palm pressured the tropical oil.Bigger ...

NY sugar may revisit high of 15.97 cents SINGAPORE: New York October sugar may revisit its Aug. 27 high of 15.97 cents per lb, as indicated by a wave pattern and a Fibonacci retracement analysis.The rebound from the Aug. 25 low of 15.30 cents seems to have adopted a zigzag pattern, which will consist of three waves. So far, only two waves have completed, with the second wave labelled b having bottomed around a support at 15.56 cents, the 61.8 percent Fibonacci retracement ...

CBOT wheat to test resistance at $5.51-1/2 SINGAPORE: CBOT September wheat is expected to test a resistance at $5.51-1/2 per bushel, with a good chance of breaking above this level and rising more to $5.58.The resistance is at the 38.2 percent Fibonacci projection level of a wave C, the third wave of a three-wave cycle that developed from the July 29 low of $5.18-1/2. This wave has a fierce character and may travel into a range of $5.64-1/4 to $5.72, respectively the ...

CBOT corn still targets $3.58-1/2 to $3.60 range SINGAPORE: CBOT September corn still targets a bullish range of $3.58-1/2 to $3.60 per bushel, as it has completed a correction from the Aug. 18 high of $3.70.The correction consists of three waves labeled a, b, c, with the wave c having bottomed around a support at $3.53-1/4, its 100 percent Fibonacci projection level.An immediate resistance is at $3.56-1/2, the 76.4 percent level, a break above which will confirm the target range formed by the ...

Iron ore rout extends as Dalian futures sink 2.7pc amid tight credit SINGAPORE: China's iron ore futures slumped nearly 3 percent to a contract low on Thursday, putting spot prices on course to drop to their weakest level since 2009, as tighter credit curbed purchases of imported cargoes.Spot iron ore prices have fallen more than 34 percent this year. The rout, fuelled by excess supplies, has forced Chinese steel mills to resell some cargoes back to the market as global miners kept on ramping up output.While Chinese ...

Spot gold may retest resistance at $1,290 SINGAPORE: Spot gold may retest a resistance at $1,290, with a good chance of breaking above it and rising further to $1,301, as indicated by a triangle and a Fibonacci retracement analysis.The rebound from the Aug. 21 low of $1,273.06 may extend, as the drop from the Aug. 26 high of $1,290.80 has been shaped into a triangle, which is a bullish continuation pattern.The Fibonacci retracement on the fall from the July. 10 high of ...


 



 
Index Closing Chg%
Arrow DJIA 17,098.45 0.11
Arrow Nasdaq 4,580.27 0.50
Arrow S&P 2,003.37 0.33
Arrow FTSE 6,825.31 0.08
Arrow DAX 9,479.03 0.09
Arrow CAC-40 4,379.73 0.03
Arrow Nikkei 15,476.60 0.34
Arrow H.Seng 24,752.09 0.04
Arrow Sensex 26,867.55 0.86





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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 28, 2014
Reserves $13.582 bln