Asia
Monday, 29 April 2013 11:04
151
SINGAPORE: Gold rose more than 1 percent on Monday and held near its highest in more than a week, as a rebound in prices from multi-year lows failed to damp investor appetite for the precious metal, causing a shortage in physical supply.Recent bleak US growth data that raised hopes the Federal Reserve would keep its current pace of bond buying at $85 billion a month also supported gold, widely seen as a hedge against inflation.US gold futures, which often provide trading cues to cash gold, hit a high of $1,472.20 an ounce. By 0553 GMT, prices stood at $1,468.90 an ounce, up $15.30. Spot gold rose $6.70 to $1,469.20 an ounce.Both cash gold and futures sank to around $1,321 on April 16, their lowest in more than two years, after a drop below $1,500 sparked a sell-off that prompted investors to slash holdings of exchange-traded funds. They touched an 11-day ...
MUMBAI: Indian soybean futures rose 2 percent on Thursday to their highest level in two weeks on supply crunch as farmers were holding the stock expecting further rise in prices.Soyoil rose on good demand and a rise in overseas palm oil prices, while rapeseed was treading water.At 0800 GMT, the benchmark Malaysian palm oil contract was up 0.83 percent at 2,308 ringgit per tonne while US soybeans was 0.57 percent lower at $14.12-1/4 per bushel."Soybean ...
MUMBAI: Indian sugar futures hit a contract low on Thursday on a drop in overseas prices and as local mills sold the sweetener aggressively to generate cash for cane payments.The key June contract on the National Commodity and Derivatives Exchange was down 0.57 percent at 2,972 rupees per 100 kg at 0833 GMT, after hitting a contract low of 2,970 rupees earlier."Cane arrears have risen substantially. To trim arrears mills are aggressively selling sugar in ...
SINGAPORE: New York July cocoa looks neutral in a range of $2,301-$2,355 per tonne, and an escape will point a future direction.The range has been formed by the Tuesday high and the 23.6 percent Fibonacci retracement on the rise from the April 4 low of $2,126 to this high.A rise above $2,355 will be extended to $2,395, the 161.8 percent Fibonacci projection level of an upward wave C or wave 3 which started at $2,126, ...
COLOMBO: Sri Lankan shares rose for a second straight session on Wednesday to hit a near seven-month high helped by retail investor buying on hopes that interest rates will ease, while the rupee closed at its lowest level in six weeks on dollar demand from importers.The main stock index rose 0.85 percent, or 50.21 points, to 5,933.73, its highest close since Oct. 1, 2012.Shares have been rising on hopes of a fall in interest rates ...
SINGAPORE: US gold futures for June delivery gained more than 1 percent to a session high of $1,424.5 an ounce on Wednesday after a drop in the previous session triggered bargain hunting.But the precious metal was still under pressure from a firm US dollar and daily falls in exchange-traded funds holdings. Copyright Reuters, 2013 ...
SINGAPORE: London copper climbed on Wednesday as brighter corporate earnings sparked a rush by shorts to cover, although prices held close to one-and-a-half year lows after a string of weak manufacturing data hurt demand expectations.While a drop in momentum in major North American, European and Asian economies capped prices, expectations that this would lead to more quantitative easing measures from global central banks ensured there was no renewed selling pressure on riskier assets, such as ...
More Articles...
| |||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||
