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Gold struggles below $1,300 on strong US data, higher stocks SINGAPORE: Gold was stuck firmly below $1,300 an ounce on Wednesday after a three-day losing streak, as strong US housing data bolstered stock markets and dimmed bullion's appeal as a safe haven.While keeping an eye on mounting geopolitical tensions, investors were also awaiting minutes of the Federal Reserve's July meeting for clues about the US central bank's monetary policy outlook.Spot gold was little changed at $1,295.68 an ounce by 0332 GMT, after dropping 1.3 percent in the last three sessions. US gold was steady at $1,297."Robust housing reports out of the United States were important, as the stronger numbers should dispel concern that the sector is starting to slow, as was the conventional view for the past few weeks," said INTL FCStone analyst Edward Meir.The data may leave the room open for an uptick in rates and strong dollar, both of which should be bearish for gold over the short ...


CBOT soybeans to break support at $10.41-1/2 SINGAPORE: CBOT soybeans November contract is poised to break a support at $10.41-1/2 per bushel and fall further towards $10.26-3/4, driven by a wave C.The contract failed to overcome this barrier at its first attempt, but may succeed in its current attempt. The support is provided by 76.4 percent Fibonacci projection level of a downward wave C that started at the Aug. 11 high of $10.89-1/4.The next support will be at $10.26-3/4, the 100 percent ...

Copper steady as upbeat US economic data offsets China concerns LONDON: Copper prices steadied on Tuesday as encouraging signs from the U.S. economy offset concerns about top consumer China's struggling property sector and the outlook for industrial metals demand.Three-month copper on the London Metal Exchange (LME) traded at $6,905 a tonne in official rings, flat from Monday's close.U.S. homebuilding stocks rose on Monday, boosted by data that showed homebuilder sentiment rose in August to its highest level since January.In contrast, China's new home prices fell ...

Corn, wheat ease for second day on supply pressure SINGAPORE/PARIS: Chicago corn futures dropped for a second session on Tuesday as findings from a widely-watched crop tour renewed expectations of a near-record US harvest, while wheat fell on easing concerns over Black Sea supplies.Soybeans edged lower, giving up some of the last session's gains after a US Department of Agriculture weekly report showed a slight improvement in crop ratings.Chicago Board of Trade December corn had fallen 0.8 percent to $3.68-1/2 a bushel by 1126 ...

Sugar slips to 6-month low as stocks build, coffee eases LONDON: ICE raw sugar futures sank to a fresh six-month low on Tuesday, as slow demand on the physical market and building world stocks weighed on prices.Coffee was also lower, while cocoa prices traded below the previous session's more than 3-year high.The strengthening U.S. dollar against a basket of currencies was bearish for dollar-priced commodities.In raw sugar, benchmark ICE October futures were down 0.07 cent or 0.5 percent to 15.61 cents at 1405 GMT, having ...

Gold down on stronger dollar; palladium holds near 13-year high LONDON: Gold moved lower on Tuesday on buoyant global equities and as the dollar strengthened after upbeat U.S. data, while the market continued to monitor international political tensions.Palladium steadied near a 13-year high of $900 an ounce hit in the previous session, supported by worries about supplies from top producer Russia and strong demand prospects. Prices were unchanged at $888.75 an ounce by 1440 GMT."It is mostly the demand side, with record-high car sales from ...

CBOT soybeans neutral in $10.46-$10.60 range SINGAPORE: CBOT soybeans November contract looks neutral in a range of $10.46-$10.60 per bushel, and an escape will point to a direction.The range has been formed by the low and the high of Aug. 18. A fall below $10.46 will signal a continuation of the downward wave (c) towards $10.26-3/4, its 100 percent Fibonacci projection level. A rise above $10.60 could extend to $10.69, the Aug. 15 high.The bias could be towards the upside, as ...


 



 
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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 15, 2014
Reserves $14.264 bln