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Gold near 8-month low on fears of hawkish Fed, weak physical buying SINGAPORE: Gold edged higher on Monday as Asian equities tumbled but the metal continued to struggle near an eight-month low due to weak physical demand and fears the Federal Reserve may signal an early interest rate increase at this week's policy meeting.The Fed meeting may be pivotal as it debates a potential overhaul of its guidance on interest rates and seeks to nail down a plan for quitting its extraordinarily easy monetary policy.Investors will parse the US central bank's words closely for any clues on the timing of the first US rate rise in more than eight years. An announcement is expected on Wednesday at the end of the two-day meeting.Any increase in interest rates would hurt non-interest-bearing gold and boost the dollar."The (Fed) meeting this week will dictate price action for the precious metals," said Samuel Laughlin, a metals dealer at MKS Group."Market consensus is for a June 2015 ...

Gains in soy, robust exports lift palm to 1-month high KUALA LUMPUR: Malaysian palm oil futures rose to a one-month high on Monday, lifted by gains in US and China soyoil markets and a surge in exports of the tropical oil in the first half of the month.Overseas shipments of Malaysian palm oil between Sept. 1 and Sept. 15 rose 32 percent to 750,425 tonnes compared with the same period a month ago, data from cargo surveyor Intertek Testing Services showed.Demand for crude palm oil ...
NY sugar may drop to 13.43 cents SINGAPORE: New York October sugar may fall further to 13.43 cents per lb, driven by a powerful wave 3.This is the third wave of a five-wave cycle starting from the Aug. 22 high of 16.05 cents. The big drop on Sept. 12 indicates an acceleration of this wave. The support at 13.72 cents, the 300 percent level, looks very weak and may not hold the fall towards the 338.2 percent projection level at 13.43 cents.Resistance ...
NY coffee remains neutral in $1.81-$1.8650 range SINGAPORE: New York December coffee still looks neutral in a range of $1.81-$1.8650 per lb, and an escape will point a direction.The range has been formed by the 61.8 percent and the 50 percent Fibonacci retracements on the rise from the July 15 low of $1.6310 to the Sept. 2 high of $2.0995.A rise above $1.8650 could confirm a small bottom that formed around $1.81, and the 38.2 percent retracement at $1.9205 will be targeted. ...
China iron ore, steel bounce after losses; gains seen fragile SINGAPORE: Iron ore and steel futures in China jumped on Monday as firmer spot steel prices spurred a rebound from a recent string of losses, although the recovery is seen fragile amid growing signs of weakness in the world's No. 2 economy. There was a flurry of spot deals on trading platforms as sellers raised their price offers amid firmer futures markets. The most-traded iron ore for delivery in January on the Dalian Commodity Exchange ...
Spot gold to drop to $1,218 SINGAPORE: Spot gold is expected to slide to $1,218 per ounce, as it has broken a support at $1,233.The support was provided by the 138.2 percent Fibonacci projection level of a downward wave C that developed from the Aug. 8 high of $1,322.60.The next support will be at $1,218, the 161.8 percent level.It won't be a surprise if gold falls to $1,209, the 176.4 percent level, as the metal could eventually reach $1,184.50, the Dec. ...
LME copper may fall to $6,739 SINGAPORE: LME copper may break support at $6,772 per tonne and fall more to $6,739, as a rebound from the Sept. 11 low of $6,770 seems to be over. The support is identified as the 123.6 percent Fibonacci projection level of a downward wave C that started at the Sept. 8 high of $7,052.25. Copper failed to overcome this barrier in its first attempt but may succeed in its current attempt. The next support will ...

 



 
Index Closing Chg%
Arrow DJIA 17,131.97 0.59
Arrow Nasdaq 4,552.76 0.75
Arrow S&P 1,998.98 0.75
Arrow FTSE 6,792.24 0.18
Arrow DAX 9,632.93 0.28
Arrow CAC-40 4,409.15 0.44
Arrow Nikkei 15,911.53 0.23
Arrow H.Seng 24,136.01 0.91
Arrow Sensex 26,492.51 1.21





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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 15, 2014
Reserves $13.414 bln