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Gold extends losses to 3rd day on stronger equities SINGAPORE: Gold fell for a third straight session on Tuesday, with profit taking driving it further off five month highs as its safe haven appeal diminished with equity markets strengthening and the US dollar at an 11-year peak against a basket of major currencies.Spot gold eased 0.2 percent to $1,278.41 an ounce by 0344 GMT. The metal fell 1.6 percent in the previous two sessions, after hitting a five-month high of $1,306.20 on Thursday.Edward Meir, an analyst with INTL FC Stone, said bullion was in danger of losing the "tailwind" evident earlier this month.Sharp declines in oil prices and jitters in global equity markets had helped gold gain about 9 percent so far in January.Bullion had also risen as investors sought safe havens due to the European Central Bank embarking on a quantitative easing campaign, printing money, and fears that the new Greek government's opposition to bail out terms forced ...

China iron ore futures fall for 5th day, spot sinks to 5-1/2-year low SHANGHAI: China's iron ore futures dropped for a fifth straight day on Tuesday as steel mills cut output, curbing demand for the raw material and dragging spot prices to their lowest in more than 5-1/2 years.The lower iron ore prices and rising imports from Australia and Brazil have forced a growing number of Chinese mines to suspend production, including a state-owned one in northern Hebei province, industry sources said.Li Wenjing, an analyst with Industrial Futures ...

Burkina Faso 2014/15 cotton harvest seen just under 700,000 T OUAGADOUGOU: Burkina Faso expects a cotton harvest of just under 700,000 tonnes during the 2014/15 season, up from the last year's 650,000 tonnes but revised down from an initial target, firms operating in the country estimated on Monday. The figure is about 100,000 tonnes below a target set last year for the 2014/15 harvest due to poor rains at the beginning of the season in the land-locked West African nation. SOFITEX, the country's biggest cotton ...

LME copper option volatility jumps as prices hit fresh lows NEW YORK: Copper option volatility jumped on Monday with heavy volume in put option trades as low as $5,000 per tonne, as investors scrambled to protect their positions against a deeper rout after prices hit fresh 5-1/2-year lows. The activity came as prices for three-month copper on the London Metal Exchange sank as low as $5,339.50 a tonne, its weakest since July 2009, before paring losses to end the day at $5,580, up 1.27 percent. ...

EU wheat prices fall on euro rebound, CBOT setback LONDON: European wheat prices fell on Monday, pressured by a setback in US futures and a bounce of the euro against the dollar but remained underpinned by a strong export outlook, traders said. March milling wheat on Paris-based Euronext ended 2.00 euros or 1.1 percent lower at 196.50 euros a tonne. The euro rebounded on Monday after hitting an 11-year low against the dollar after an election in Greece put an anti-austerity government in power. ...

Copper recovers after hitting 5-1/2 year low LONDON: Copper recovered from a 5-1/2-year low on Monday, with investors shaking off worries over the Greek election result while speculation grew that China is again filling state metal reserves. The victory by Greece's leftist Syriza party spurred concern about euro zone instability, but the possibility of Greece leaving the bloc was seen as remote and confidence prevailed over the European Central Bank's new monetary stimulus programme. At the same time reports circled that China's ...

US wheat closes near session lows on weather view CHICAGO: US wheat futures sagged 2 percent to their lowest in nearly 11 weeks on Monday, pressured by good forecasts for growth across key growing regions and light export demand, traders said.Showers that will boost soil moisture were forecast for the southern US Plains, the country's main hard red winter wheat growing area.Soft red winter wheat will benefit from protective snow cover that will guard the crop from damage related to freezing conditions in the ...


Index Closing Chg%
Arrow DJIA 17,164.95 1.45
Arrow Nasdaq 4,635.24 1.03
Arrow S&P 1,994.99 1.30
Arrow FTSE 6,749.40 0.90
Arrow DAX 10,694.32 0.41
Arrow CAC-40 4,604.25 0.59
Arrow Nikkei 17,674.39 0.39
Arrow H.Seng 24,507.05 0.36
Arrow Sensex 29,182.95 1.68

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 25, 2015
Reserves $15.019 bln