Asia
Monday, 13 May 2013 12:01
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SINGAPORE: Gold fell more than 1 percent on Monday, holding near its weakest level in two weeks, as the dollar firmed on signs of an improving US job market and as holdings in exchange-traded funds slipped again.Bullion's safe-haven appeal has been dimmed by speculation the Federal Reserve could scale back its aggressive monetary stimulus after recent US labour market data pointed to a steady recovery trend in the world's largest economy.Gold had dropped $11.94 an ounce to $1435.76 by 0610 GMT, nearing Friday's low of $1,420.61, its weakest since April 24. Gold has fallen more than 14 percent this year as investors switch funds into a rallying equity market and the greenback."So far, nothing in the market bodes well for an upside in gold. Gold needs to break above $1,487 to show an upward correction," said Joyce Liu, an investment analyst at Phillip Futures in Singapore."CFTC data shows an increase ...
SINGAPORE: CBOT July corn is expected to retest a support at $6.27-1/2 per bushel, as indicated by its wave pattern and a Fibonacci projection analysis.The drop on May 10 touched a low at $6.25, lower than the previous one at $6.26 hit on May 8, thus confirming the extension of a downtrend that developed from the May 3 high of $6.67.A downward wave c is driving the trend towards $6.12, its 100 percent Fibonacci projection ...
MUMBAI: Tea prices in India, the world's second-biggest producer, dropped at this week's auction on higher supplies, though demand was robust from local buyers.The CTC (crush-tear-curl) grade was sold at 150.58 rupees per kg, down 3.9 percent from the previous week's auction, while prices of the dust variety fell 3 percent to 164.39 rupees per kg."Demand was good. Local buyers were active, but a sharp rise in supplies pulled down prices," said an official of ...
MUMBAI: Indian soybeans and soyoil futures rose on Friday tracking gains in overseas prices and on a weak rupee, though subdued export demand for oilmeal and ample supplies of edible oils weighed on sentiment.* The key June soybean contract on the National Commodity and Derivatives Exchange rose 0.75 percent to close at 3,895.5 rupees per 100 kg.* The key June soyoil contract rose 0.15 percent to close at 691.75 rupees per 10 kg, while the ...
MUMBAI: Indian sugar futures were treading water on Friday as surplus supplies outweighed an improvement in demand from bulk consumers due to the ongoing summer season.The key June contract on the National Commodity and Derivatives Exchange was down 0.07 percent at 3,028 rupees per 100 kg at 0922 GMT, after hitting a three-week high of 3,044 rupees in the previous session.June futures hit a contract low of 2,945 rupees earlier this week."The rising temperature is ...
SINGAPORE: New York July cocoa may retest support at $2,364 per tonne, and a break below which will lead to a further loss to $2,318.Obviously, the drop from the May 3 high of $2,437 is against an uptrend rising from the April 4 low of $2,126, as it paused around $2,364, the 23.6 percent Fibonacci retracement.Compared to the previous wave B, which retraced about 50 percent of the gain from the March 7 low of ...
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