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Gold falls from near 3-week high on stronger dollar SINGAPORE: Gold slipped on Wednesday as a stronger dollar prevented the metal from holding on to sharp overnight gains that took it to a near three-week high.The dollar gained against a basket of major currencies on Wednesday, with the yen sliding to a fresh seven-year low against the greenback.In quiet trade, spot gold was down 0.4 percent to $1,192.75 an ounce by 0355 GMT. The metal jumped to a near three-week high of $1,204.70 on Tuesday and closed up about 1 percent."It felt like another short-covering rally as we have not been able to hold above $1,200," said a precious metals trader in Singapore. "The dollar is still the major factor impacting prices."The dollar had fallen in the previous session, as a better than expected survey of German sentiment boosted the euro.But the greenback benefited on Wednesday from weakness in the yen, which is on the backfoot after the Japanese ...

Copper price seen about $3.15/lb in 2015 or higher SHANGHAI: Copper prices are seen trading about $3.15 a pound ($6,945 a tonne) in 2015 and could go higher, the president of Southern Copper Corporation, Oscar Gonzalez Rocha, said. "With demand recovering in the US and Europe, and Chinese copper consumption growth maintaining at current levels, we see 2015 copper prices at about $3.15 a pound with quite a lot of upside potential," Rocha told a Metal Bulletin copper conference in Shanghai. LME copper traded ...

Dalian iron ore futures sink further as spot hits five-year low SINGAPORE: China's iron ore futures fell 4 percent to a record low on Wednesday, piling more pressure on spot prices that have slumped to their weakest in more than five years as a supply glut overhangs the commodity.Iron ore has lost nearly half of its value this year, hit hard by a slowing economy in top consumer China. Analysts are ruling out any Chinese restocking that typically supports prices in the last months of a ...

Corn at 1 week low on record US supplies, wheat falls for 3rd day SINGAPORE: Chicago corn futures lost more ground on Wednesday, falling for a fourth straight session to their lowest in more than one week as record US supplies flood the market.Wheat tracked declines in the corn market, although losses were limited by severe cold weather hurting the US winter crop. Copyright Reuters, 2014

Spot gold to retrace to $1,176 SINGAPORE: Spot gold is expected to retrace to $1,176 per ounce, as it failed to break resistance at $1,203.The current rebound seems to be against a medium-term downtrend that developed from the Aug. 28, 2013 high of $1,433.31. A Fibonacci retracement analysis reveals resistance at $1,203, the 23.6 percent level.Gold retraced deeply when it encountered an earlier resistance at $1,176, the 14.6 percent level. Chances are it may retrace again. A break above $1,203 will ...

LME copper neutral in $6,617-$6,660 range SINGAPORE: LME copper looks neutral in a range of $6,617-$6,660 per tonne, and an escape will point to a direction. The range has been formed by the 14.6 percent and the 38.2 percent Fibonacci projection levels of an upward wave c that developed from the Nov. 13 low of $6,590.A rise above $6,660 could signal an extension of the wave c towards $6,730, the 76.4 percent level, while a break below $6,617 could cause a ...

LME aluminium to retest support at $2,008 SINGAPORE: LME aluminium may retest a support at $2,008 per tonne, a break below which will lead to a further loss to $1,986. The support is at the 38.2 percent Fibonacci retracement on the rise from the Oct. 16 low of $1,893.50 to the Nov. 6 high of $2,078.75, temporarily blocking the way towards the next support at $1,986, the 50 percent level. It seems a triple-top has formed around $2,078.75, pointing a target at ...


Index Closing Chg%
Arrow DJIA 17,810.06 0.51
Arrow Nasdaq 4,712.97 0.24
Arrow S&P 2,063.50 0.52
Arrow FTSE 6,750.76 1.08
Arrow DAX 9,732.55 2.62
Arrow CAC-40 4,347.23 2.67
Arrow Nikkei 17,357.51 0.33
Arrow H.Seng 23,437.12 0.37
Arrow Sensex 28,334.63 0.95

Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln