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Gold set to post weekly gain on uncertain US rate outlook LONDON: Gold inched down on Friday as shares rebounded, but was still set for a second straight weekly gain as concerns over the global economy have raised speculation the US Federal Reserve could keep interest rates low for longer. Spot gold was down 0.1 percent at $1,237.35 an ounce by 1346 GMT.The metal is up about 1.4 percent for the week after reaching a one-month high of $1,249.30 on Wednesday. US gold futures were down $3.30 an ounce at $1,237.80. "Gold has had a good week because just about everything else has had a bad week. The rally has paused today, however, as the wider markets are wondering whether things really are quite as bad as they thought they were yesterday," Macquarie analyst Matthew Turner said. European stocks clawed back some of this week's losses on Friday after solid US data on Thursday calmed turbulence in global financial markets, though ...


Cocoa rises after strong N. American grind, sugar dips LONDON: Cocoa futures on ICE rose on Friday after stronger than expected North American grind data, and on worries Ebola could disrupt supplies from West Africa, while sugar eased due to a huge overhang of supplies.Arabica coffee on ICE fell in technically driven dealings, correcting after the previous session's gains, with attention focused on weather risks to Brazil's 2015/16 output after a prolonged dry spell.December cocoa on ICE was up $24, or 0.8 percent, at ...

Corn set for biggest weekly gain in 17 months on harvest delays SYDNEY: US corn futures rose for a second session on Friday as the grain was set to post its biggest weekly gain in more 17 months due to harvest delayscaused by rain.FUNDAMENTALSChicago Board Of Trade front-month corn is up more than 6 percent for the week, its biggest weekly rally since May 2013. Front-month soybeans rise to be up more than 5 percent for the week, the third straight weekly gain and the biggest weekly ...

Spot gold target of $1,263 aborted SINGAPORE: A bullish target at $1,263 per ounce has been aborted for spot gold as it may drop to $1,229 first.The rebound from the Oct. 6 low of $1,183.46 has adopted a corrective wave mode, currently divided into three waves, with the first wave labelled a having peaked at the Oct. 10 high of $1,233.20 and the second wave labelled b having bottomed at the Oct. 15 low of $1,221.67.The third wave c has failed ...

LME copper to retest support at $6,524 SINGAPORE: LME copper is expected to retest support at $6,524 per tonne, a break below which will lead to a further loss to $6,444.Support is identified as the 138.2 percent Fibonacci projection level of a downward wave (c) that started at the Sept. 16 high of $6,992. This wave is capable of travelling to $6,444, the 161.8 percent projection level.Resistance is at $6,604, the 114.6 percent projection level, a break above which could cause a ...

LME aluminium to drop to $1,880 SINGAPORE: LME aluminium is expected to drop to $1,880 per tonne, driven by a wave c.This is the third wave of a three-wave cycle that developed from the Sept. 2 high of $2,119, progressing towards $1,824, its 61.8 percent Fibonacci projection level. The weak rebound from the Oct. 16 low of $1,893.50 may end around resistance at $1,935, the 14.6 percent level.Strategically, the target at $1,880 will be confirmed when aluminium drops below support at ...

Shanghai copper to drop to 46,570 yuan SINGAPORE: Shanghai copper is expected to drop to 46,570 yuan per tonne, driven by wave c.This is the third wave of a three-wave cycle that developed from the Aug. 25 high of 50,300 yuan. A Fibonacci projection analysis reveals a support at 46,980 yuan, the 86.4 percent level, which has stopped the wave c again and triggered a moderate rebound.The rebound could have ended around a resistance at 47,280 yuan, the 76.4 percent level, and ...


 



 
Index Closing Chg%
Arrow DJIA 16,461.32 0.92
Arrow Nasdaq 4,382.85 0.83
Arrow S&P 1,927.11 0.73
Arrow FTSE 6,399.73 0.43
Arrow DAX 8,940.14 0.60
Arrow CAC-40 4,105.09 0.58
Arrow Nikkei 15,195.77 2.64
Arrow H.Seng 23,403.97 1.37
Arrow Sensex 26,787.23 0.80





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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
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 20, 2014
Reserves $13.436 bln