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Gold demand falls in Q2 as jewellery, bar sales slide-WGC LONDON: Global gold demand fell in the second quarter, the World Gold Council said on Thursday, as a plunge in jewellery, coin and bar sales from last year's record levels outweighed lower liquidation of gold-backed exchange-traded funds.Demand fell 16 percent in the April to June period to 964 tonnes, with jewellery offtake, the largest single segment of gold demand, down 30 percent, while coin and bar buying tumbled 56 percent.Selling from gold-backed ETFs, which helped balance the market during last year's buying frenzy, eased off to 39.9 tonnes however, from 402.2 tonnes in the second quarter of 2013. Demand for physical gold surged in that period after gold prices slid by nearly a quarter.The last quarter's weakness is likely to set the gold market up for a full-year demand drop, albeit by a smaller degree than seen so far this year, the WGC's managing director for investment, Marcus Grubb, said."Overall, ...


CBOT soybeans may break support at $10.41-1/2 and fall more SINGAPORE: CBOT soybeans November contract is expected to test a support at $10.41-1/2 per bushel, with a good chance of breaking below this level and falling more towards $10.26-3/4.The support is provided by the 76.4 percent Fibonacci projection level of a downward wave c that started at the Aug. 11 high of $10.89-1/4. This wave is capable of travelling to $10.26-3/4, its 100 percent projection level.A drop to $10.40 may confirm both a break below ...

Iron ore, steel futures hit eight-week lows on China woes SINGAPORE: Chinese steel and iron ore futures slid to eight-week lows on Thursday as fresh concerns over China's economy cast doubts on the outlook for demand for the two commodities.A gauge of money flowing into China's economy fell to the lowest since October 2008, adding to fears that a sustained recovery may be at risk in the second half of the year despite government efforts to shore up growth.The data, released on Wednesday along with ...

Copper slumps to seven-week low on China economy fears LONDON: Copper fell to a seven-week low on Wednesday, dragged down by disappointing data on top consumer China's property sector which raised concerns about the outlook for the metal used in power and construction.Three-month copper on the London Metal Exchange (LME) fell to a session low of $6,911.75 a tonne, its weakest level since June 26. It later rebounded slightly to trade down 0.7 percent at $6,917 a tonne in official rings.China's economy showed further ...

Gold prices rise after US retail sales data LONDON: Gold rose on Wednesday after soft retail sales implied some loss of momentum in the U.S. economy, putting pressure on the dollar and curbing speculation that the Federal Reserve may raise interest rates sooner than expected.The metal remained in a narrow range, however, as signs that tensions in Ukraine and Iraq may be easing underpinned stock markets in Europe and the United States.Spot gold was up 0.2 percent at $1,311.56 an ounce at 1421 ...

Corn dips as US harvest expected to top government outlook CHICAGO: US corn and soybean futures dipped on Wednesday on expectations that autumn harvests will exceed government forecasts due to favorable weather.Prices extended losses one day after the US Department of Agriculture issued a monthly report that projected smaller-than-expected production of both crops.Traders shrugged off the forecasts as too low because mild, wet weather has been nearly ideal for crops and farmers have reported gorgeous-looking crops in their fields.On Tuesday, the USDA pegged the US ...

Gold holds above $1,300 as Ukraine worries stoke safe-haven demand SINGAPORE: Gold was well supported above $1,300 an ounce on Wednesday as weak investor morale in Germany and fears over the economic impact on Europe of the crisis in Ukraine prompted investors to seek safety in bullion.The yellow metal benefited from safe-haven bids as Asian shares struggled after Wall Street snapped a two-day rally, with the crisis in Ukraine sapping investor confidence.Spot gold rose 0.2 percent to $1,310.30 an ounce at 0627 GMT, after a ...


 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 15, 2014
Reserves $14.264 bln