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Spot gold to revisit low of $1,273.06 SINGAPORE: Spot gold is expected to test support at $1,280 per ounce, with a good chance of breaking below this level and falling more to the Aug. 21 low of $1,273.06.The rebound from this low has completed, as it could be divided into five small waves.A Fibonacci retracement analysis on the fall to this low from the Aug. 8 high of $1,322.60 reveals support at $1,280, the 14.6 percent level, which may be easily broken, as the drop from the Aug. 28 high of $1,296.50 is considered as a resumption of the preceding downtrend falling from $1,322.60.Gold failed to break a higher support at $1,285 at its first attempt, but may succeed at its current attempt.Resistance is at $1,292, the 38.2 percent level, a break above which will make signals neutral.The views expressed are his own.No information in this analysis should be considered as being business, financial or legal advice. ...

LME copper to rebound further to $7,016 SINGAPORE: LME copper may gain more to $7,016 per tonne, as it has cleared a resistance at $6,959. The resistance was at the 38.2 percent Fibonacci projection level of a downward wave C that developed from the Aug. 26 high of $7,108.75. The next resistance will be at $7,016, the 23.6 percent projection level. An extension of the rebound above $7,016 could be less likely, as the wave C seems to be only partially completed. ...
LME aluminium due for a good correction SINGAPORE: LME aluminium is due for a good correction as a five-wave cycle from the May 21 low of $1,754.75 may peak around a resistance at $2,129. The resistance is at the 161.8 percent Fibonacci projection level of an upward wave C that developed from $1,754.75. Aluminium has approached this level but failed to touch it. The failure indicates the cycle may have completed or is ending. A break below the support at $2,074, the ...
Indonesia's Aug Sumatra coffee bean exports fall 32pc y/y BANDAR LAMPUNG: Robusta coffee bean exports from Indonesia's main growing area in Sumatra fell 32 percent to 21,986.28 tonnes in August from a year earlier, government trade data showed on Monday.Indonesia shipped 32,263.33 tonnes of robusta in the same month a year earlier and 14,181 tonnes in July. Copyright Reuters, 2014 ...
Shanghai copper may end rebound around 50,250 yuan SINGAPORE: Shanghai copper may end its rebound from the Aug. 29 low of 49,480 yuan per tonne around a resistance at 50,250 yuan, as indicated by its wave pattern and Fibonacci projection analysis.The rebound was triggered by a support at 49,470 yuan, the 50 percent projection level. However, this wave has only partially completed, as it is capable of travelling to 47,990 yuan, the 100 percent level.The resistance at 50,250 yuan, the 23.6 percent level, ...
Chinese steel futures fall to new low on disappointing PMI data BEIJING: Chinese steel futures continued their decline on Monday, with buyers concerned by persistent overcapacity problems, especially after a weaker-than-expected performance by China's manufacturing sector in August.Economic data issued on Monday suggested that China's stimulus measures were no longer enough to offset declining investment in the property sector, which is suffering from overcapacity.China's factory sector growth fell to a three-month low in August, according to a private survey published on Monday, and China's official manufacturing ...
Palm drops to 5-1/2 year low, biggest monthly loss since Sept 2012 KUALA LUMPUR: Malaysian palm oil futures slid to a five-and-a-half year low on Friday due to fears of rising vegetable oil supply and lower demand, resulting in its biggest monthly loss since September 2012.The benchmark November contract on the Bursa Malaysia Derivatives Exchange shed 2.5 percent to 1,930 ringgit ($613) per tonne by the close. For the week, the contract fell 3.5 percent to post its fourth straight week of losses.Prices in August have plunged ...

 



 
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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 28, 2014
Reserves $13.582 bln