Tuesday, 30 April 2013 15:06
Posted by Shoaib-ur-Rehman Siddiqui
SINGAPORE: Gold fell 1 percent on Tuesday, slipping into negative territory after some early bargain hunting, while daily outflows from exchange-traded funds highlighted investors' lack of confidence in the precious metal.Although gold's appeal as a hedge against inflation may be burnished by hopes the US Federal Reserve will maintain its bond-buying programme, surging stock markets could tempt investors to ditch bullion and shift to equities.Gold fell $14.18 an ounce to $1,461.61 by 0617 GMT.It had ...
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SINGAPORE: London copper jumped more than 2 percent on Friday and appeared on course for its best day in four months, backed by more confidence in the global economy as central banks moved to stimulate growth which would boost demand for industrial metals.The European Central Bank cut interest rates for the first time in 10 months on Thursday, a day after the US Federal Reserve committed to continue its $85-billion monthly bond-buying program to bolster growth.In a bid to spur lending, the ECB said it was also "technically ready" to cut its deposit rate from the current zero percent into negative territory, meaning it would start charging banks for holding their money overnight.Three-month copper on the London Metal Exchange was up 2.6 percent at $7,027 a tonne by 0711 GMT, and was on track for its biggest daily gain since early January. The metal is nearly flat for the week.The ...
KUALA LUMPUR: Malaysian palm oil futures crept up in tight trade on Friday with many investors exiting the market as the country heads into polls. Gains were capped by poor export data which set prices on course for a weekly loss of 2 percent.Malaysia, the world's No.2 palm oil producer, will hold its general elections on Sunday, May 5, in what could be the toughest test of the ruling coalition's 56-year grip on power in ...
SINGAPORE: Chicago corn was little changed on Friday, holding on to last session's gains and on track for its biggest weekly rise since July as wet weather continued to delay planting in the US Midwest, raising expectations for corn acres to switch to soybeans.Wheat edged higher, rising for four out of five sessions as the market was driven up by concerns over drought damage to the US winter crop, while soybeans edged higher, tracking gains ...
MUMBAI: Indian sugar futures edged lower on Thursday on surplus supplies and a sharp drop in overseas prices, though an improvement in demand in local spot markets limited the downside.The key June contract on India's National Commodity and Derivatives Exchange was down 0.13 percent at 2,959 rupees per 100 kg at 0842 GMT, after hitting a contract low of 2,949 rupees last week."Bulk consumers are raising purchases. Demand for their products have risen due to ...
SINGAPORE: Gold held near its weakest level in almost a week on Thursday, after declines in holdings of exchange-traded funds, equities and other commodities overshadowed the US Federal Reserve's decision to maintain its loose monetary policy.Although the Fed's money-printing to buy assets could stoke inflation, gold has been overwhelmed by fears of sales by central banks and a drop in global bullion ETF holdings to their lowest since September 2009.Gold fell $3.05 an ounce to ...
SINGAPORE: Gold fell 1 percent on Tuesday, slipping into negative territory after some early bargain hunting, while daily outflows from exchange-traded funds highlighted investors' lack of confidence in the precious metal.Although gold's appeal as a hedge against inflation may be burnished by hopes the US Federal Reserve will maintain its bond-buying programme, surging stock markets could tempt investors to ditch bullion and shift to equities.Gold fell $14.18 an ounce to $1,461.61 by 0617 GMT.It had ...
MUMBAI: Indian sugar futures were treading water on Tuesday as a slight improvement in demand due to the summer season outweighed ample supplies and a drop in overseas prices.The key June contract on India's National Commodity and Derivatives Exchange was down 0.07 percent at 2,967 rupees per 100 kg at 0928 GMT, after hitting a contract low of 2,949 rupees last week."Sugar mills in Uttar Pradesh are aggressively selling. They want to pay cane farmers' ...
