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Gold eases as dollar, equities recover on strong US data SINGAPORE: Gold ticked lower on Monday as strong US economic data allayed fears about a slowdown in the global economy and dimmed the metal's safe-haven appeal, while supporting equities and the dollar.Spot gold had slipped $1 to $1,236.60 an ounce by 0306 GMT, easing for a third straight session. The metal, however, has gained nearly 4 percent in the past two weeks and hit a one-month high of $1,249.30 on Wednesday.Japanese stocks led a rally in Asia on Monday, after solid US data and earnings calmed tumult in global financial markets, while the dollar also gained in strength against a basket of major currencies."Global equities look to have recovered from last week's selloff with strong gains being posted late in the week to put downward pressure on the precious metals," said MKS Group's metals dealer Sam Laughlin."We are expecting $1,250 to form a strong resistance to any move higher in ...

Iron ore futures gain as Chinese port stocks fall to lowest since April SINGAPORE: Iron ore futures in China and Singapore advanced on Monday after stockpiles of the steelmaking raw material at Chinese ports fell to the lowest since April, helping ease some concerns in a market that had been hammered by bountiful supply.Stocks of imported iron ore at China's main ports dropped 1.35 million tonnes to 107.9 million tonnes as of Oct. 17, according to industry consultancy SteelHome that tracks the data.The decline in port stocks since ...
China Sept coal output falls 7pc yr/yr SHANGHAI: China's coal production fell 7 percent from a year ago to 292 million tonnes in September, according to an industry website that cited data from the National Bureau of Statistics. Total output in the first nine months of 2014 stood at 2.85 billion tonnes, down 1.3 percent from a year ago.Copyright Reuters, 2014 ...
Spot gold target of $1,263 aborted SINGAPORE: A bullish target at $1,263 per ounce has been aborted for spot gold as it may drop to $1,229 first.The rebound from the Oct. 6 low of $1,183.46 has adopted a corrective wave mode, currently divided into three waves, with the first wave labelled a having peaked at the Oct. 10 high of $1,233.20 and the second wave labelled b having bottomed at the Oct. 15 low of $1,221.67.The third wave c has failed ...
LME copper to retest support at $6,524 SINGAPORE: LME copper is expected to retest support at $6,524 per tonne, a break below which will lead to a further loss to $6,444.Support is identified as the 138.2 percent Fibonacci projection level of a downward wave (c) that started at the Sept. 16 high of $6,992. This wave is capable of travelling to $6,444, the 161.8 percent projection level.Resistance is at $6,604, the 114.6 percent projection level, a break above which could cause a ...
LME aluminium to drop to $1,880 SINGAPORE: LME aluminium is expected to drop to $1,880 per tonne, driven by a wave c.This is the third wave of a three-wave cycle that developed from the Sept. 2 high of $2,119, progressing towards $1,824, its 61.8 percent Fibonacci projection level. The weak rebound from the Oct. 16 low of $1,893.50 may end around resistance at $1,935, the 14.6 percent level.Strategically, the target at $1,880 will be confirmed when aluminium drops below support at ...
Shanghai copper to drop to 46,570 yuan SINGAPORE: Shanghai copper is expected to drop to 46,570 yuan per tonne, driven by wave c.This is the third wave of a three-wave cycle that developed from the Aug. 25 high of 50,300 yuan. A Fibonacci projection analysis reveals a support at 46,980 yuan, the 86.4 percent level, which has stopped the wave c again and triggered a moderate rebound.The rebound could have ended around a resistance at 47,280 yuan, the 76.4 percent level, and ...


Index Closing Chg%
Arrow DJIA 16,677.90 1.32
Arrow Nasdaq 4,452.79 1.60
Arrow S&P 1,950.82 1.23
Arrow FTSE 6,419.15 0.30
Arrow DAX 9,047.31 1.20
Arrow CAC-40 4,157.68 1.28
Arrow Nikkei 15,138.96 0.37
Arrow H.Seng 23,333.18 0.30
Arrow Sensex 26,851.05 0.24

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 23, 2014
Reserves $13.465 bln