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Spot gold to peak around $1,321 SINGAPORE: Spot gold may peak around a resistance at $1,321 per ounce, as indicated by a double-zigzag and a Fibonacci retracement analysis.The pattern will consist of seven waves in total, with the last wave labelled c unfolding towards $1,321, the 38.2 percent Fibonacci retracement on the fall from the March 17 high of $1,391.76 to the April 1 low of $1,277.29.These seven waves have been developing within a rising channel, the upper channel line of which will exert strong resistance around $1,321 as well, to force gold to fall towards the lower channel line about $1,304, the 23.6 percent retracement.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

Wheat falls for 2nd day on higher stocks estimate, soy dips SINGAPORE: US wheat fell for a second consecutive session on Thursday after the US Department of Agriculture raised its forecast for global wheat supplies above the market expectation.Soybeans edged lower after climbing above $15 a bushel in the last session on estimates of lower US 2013-14 carry over stock, while corn lost more ground.Chicago Board Of Trade May wheat futures fell 0.3 percent to $6.67 a bushel by 0330 GMT, adding to 1.9 percent decline ...

Gold turns higher after Fed minutes ease rate hike fears NEW YORK/LONDON: Gold rose on Wednesday, boosted by a weaker dollar and the release of Federal Reserve minutes that eased concerns the central bank was set to hike interest rates soon after it ended its massive monetary stimulus later this year.Gold prices pulled back after Fed Chair Janet Yellen said on March 19 the U.S. central bank would probably end its massive bond-buying program this fall and could start raising interest rates around six months ...

ICE cotton hits 2-week low after USDA report seen as 'nonevent' NEW YORK: Cotton futures sank on Wednesday as investors booked profits after the U.S. government cut its outlook for U.S. supplies in line with expectations.The most-active May cotton contract on ICE Futures U.S. closed down 1.35 cents, or 1.5 percent, to settle at 90.44 cents a lb after hitting a two-week low of 90.31 cents.The U.S. Agriculture Department (USDA) cut its forecast for 2013/14 supplies by end-July in the United States, the world's top exporter, ...

Orange juice at 2-year high as USDA trims Florida crop estimates NEW YORK: U.S. orange juice prices hit two-year highs on Wednesday after a government crop report trimmed last month's forecasts for production and yield from Florida.The active front-month contract for frozen concentrated orange juice on ICE Futures U.S., May, settled up 3 percent, or 4.8 cents, at $1.6030 a lb. During the session, the contract shot up $1.6180, its highest since April 2012.The U.S. Department of Agriculture cut its latest estimates for Florida's orange output ...

CBOT corn falls on profit-taking, decline in wheat futures CHICAGO: US corn futures shed about 1 percent on Wednesday, losing ground after notching a seven-month high earlier in the session as investors took profits in the wake of a government report showing decreased ending stocks of the grain, traders said.A steep drop in wheat futures tied to more plentiful global wheat supplies also weighed on corn futures. Most-active Chicago Board of Trade May corn futures fell as low as $5.00 per bushel before finding ...

Vietnam coffee prices at 3-week high, buying steady HANOI: Coffee prices in Vietnam, the world's largest robusta producer, rose to their highest in three weeks on Tuesday, tracking a gain in London's robusta futures market on the previous day due to drought damage to coffee output in Brazil. Vietnamese coffee prices gained around 1 percent to 41,000 dong ($1.94) per kg, the highest since mid-March, traders said. Earlier last month, prices hit an eight-month peak of 42,000 dong per kg, prompting farmers and ...


Index Closing Chg%
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Foreign Debt $60.9bn
Per Cap Income $1,368
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WeeklyApril 14, 2014
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