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Last update: Thu, 11 Feb 2016 03am

Markets - Commodities

Markets - Commodities - Europe

Gold below 12-week top on investor caution before Fed statement LONDON: Gold steadied below a 12-week peak on Wednesday as investors remained cautious ahead of the Federal Reserve's first policy statement of the year, which is expected to give clues on interest rates.While the U.S. central bank is likely to keep key rates unchanged at the conclusion of its two-day meet later in the day, investors are keen to see its latest outlook on global economic headwinds."A potential further decline in equities and market uncertainty about global growth is a good environment for gold because investors want something defensive," ETF Securities analyst Martin Arnold said.Spot gold was down 0.1 percent at $1,118.73 an ounce by 1035 GMT, within sight of Tuesday's peak of $1,122.90, its strongest since Nov. 3.U.S. gold for February delivery was also down 0.1 percent, at $1,119.10 per ounce.With risk aversion intact as concerns over global growth persist, "I won't be surprised if gold hits $1,150, even ...

Markets - Commodities - Europe

Copper slips off high as traders eye Fed meeting LONDON: Copper steadied on Wednesday after hitting its highest since Jan. 8 as oil resumed its fall and investors became cautious ahead of a Federal Reserve policy meeting later in the day.The metal was underpinned, however, by better than expected Chinese import data released a day earlier.Oil fell as rising inventories wiped out optimism about possible supply cuts, deterring investors from buying commodity basket funds that include copper.The Federal Reserve is expected to leave interest ...

Markets - Commodities - Europe

Wheat eases after one-month high on Russia export doubts PARIS/SYDNEY: US wheat edged lower on Wednesday to come off a one-month high as a renewed slide in oil and equities hurt overall markets sentiment, and a proposal by Russia's farm ministry to cut a wheat export tax tempered speculation about export restrictions.Corn and soybeans were little changed as traders weighed bearish outside markets against weather concerns in South America and southern Africa.Chicago Board of Trade front-month wheat fell 0.8 percent to $4.81 a bushel ...

Markets - Commodities - Asia

China zinc imports surge as local mines shut on high costs MELBOURNE: China's zinc imports surged in December as low prices have forced costly local mines out of business and as galvanisers hoovered up cheaper imported metal ahead of an expected shortfall later in the year, industry sources said.China's imports of the metal used to rust proof steel have shown fresh signs of life over the past three months, suggesting that local mine closures will sow the seeds of a price revival later in the year.The ...

Markets - Commodities - Asia

NY sugar may fall to 13.61 cents SINGAPORE: New York March sugar may break a support at 13.97 cents per lb and fall more towards the next support at 13.61 cents, as indicated by its wave pattern and a Fibonacci projection analysis. The contract could be riding on a wave a, the fifth wave of a double-zigzag from the Dec. 4, 2015 high of 15.85 cents. Based on the length of the preceding wave c, which started at the Dec. 31, 2015 ...

Markets - Commodities - Asia

Beijing carbon market to extend pilot trading BEIJING: Beijing's carbon market will continue to trade local permits even after a three-year pilot phase expires in June, its market regulator said, seeking to allay worries that cancellation of permits could trigger a price collapse.If extended to the six other pilot exchanges, the move could help manage volatility arising from the expiry of the current phase of trading and the establishment of a nationwide market, now delayed until next next year.It remains unclear which ...

Markets - Commodities - Asia

NY coffee faces resistance at $1.1705 SINGAPORE: New York March coffee faces resistance at $1.1705 per lb, a break above which could lead to a gain to the next resistance at $1.1895.These resistances are identified respectively as the 38.2 percent and the 50 percent Fibonacci retracements on the fall from the Dec. 31, 2015 high of $1.2680 to the Jan. 20 low of $1.1105. A rise to $1.1760 could confirm a break above $1.1705. A drop to $1.1560 could signal coffee's ...