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Spot gold neutral in $1,209-$1,219 range SINGAPORE: Spot gold looks neutral in a range of $1,209-$1,219 per ounce, but is biased to rebound more.The range has been formed by the 176.4 percent and the 161.8 percent Fibonacci projection levels of a wave C that developed from the Aug. 8 high of $1,322.60. A rise above $1,219 could be extended to $1,226, the 150 percent projection level, while a fall below $1,209 will confirm the extension of the wave C towards $1,194, the 200 percent projection level.The bullish divergence on the hourly RSI suggests gold has been much oversold and is due for a rebound.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 copper to retest support at $6,733 SINGAPORE: LME copper is expected to end its rebound around a resistance at $6,783 per tonne and then retest a support $6,733. The resistance and the support are provided respectively by the 61.8 percent and the 76.4 Fibonacci projection level of a downward wave c that started at the Sept. 16 high of $6,992. This wave has not completed, as it could eventually travel to $6,653, its 100 percent projection level. A break above $6,783 ...

Gold struggles near 8-1/2-month lows on fund outflows SINGAPORE: Gold ticked up on Tuesday but was stuck near its lowest in almost nine months, hurt by outflows from the top bullion backed exchange-traded fund as investors adjust positions on concerns of higher US interest rates and strength in the dollar.Investors pulled out of SPDR Gold Trust, the top gold-backed exchange-traded fund, for a second day in a row, with the fund's holdings falling to 774.65 tonnes on Monday - its lowest since December ...

LME aluminium may rebound to $2,013 SINGAPORE: LME aluminium may rebound to $2,013 per tonne as it failed to break a support at $1,948. The support is provided by the 38.2 percent Fibonacci retracement on the rise from the Feb. 3 low of $1,671.25 to the Sept. 2 high of $2,119. A rebound towards the 23.6 percent level at $2,013 has been triggered. The hammer appearing on Sept. 22 on the daily candlestick chart also suggests the formation of a temporary ...

Shanghai copper to end rebound around 48,430 yuan SINGAPORE: Shanghai copper may end its current weak rebound around a resistance at 48,430 yuan per tonne and then fall towards a support at 47,720 yuan.The resistance and the support are respectively provided by the 38.2 percent and the 61.8 percent Fibonacci projection levels of a downward wave c, which has been presumed to have started at 49,580 yuan, the closing price on the hourly chart on Sept. 17.This wave has not completed, as it ...

Palm oil to consolidate in 2,060-2,150 ringgit range SINGAPORE: Palm oil has found a support at 2,060 ringgit per tonne and may consolidate above this level and below a resistance at 2,150 ringgit for one or a few days. The support and the resistance are respectively provided by the 14.6 percent and the 23.6 percent Fibonacci retracements on the fall from the March 11 high of 2,916 ringgit to the Sept. 2 low of 1,914 ringgit. The rebound from 1,914 ringgit has ended ...

Soy hits 4-year low on supply pressure, wheat up for 2nd day SINGAPORE: Chicago soybeans edged up after sliding to a four-year low on Tuesday, while corn eased to trade near its lowest since 2010 as favourable weather across much of US Midwest is expected to boost harvest of record crops. Wheat rose for a second day as the world's biggest importer, Egypt, bought a US cargo for the first time since March. Chicago Board Of Trade front-month soybeans rose 0.4 percent at $9.41-1/2 a bushel at ...


 



 
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Annual2013/14
Foreign Debt $61.805bn
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MonthlyAugust
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WeeklySeptember 25, 2014
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