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Gold rallies as Fed takes patient stance on rate hike LONDON: Gold climbed back above $1,200 an ounce on Thursday after the Federal Reserve said it would take a patient approach toward raising interest rates, lifting stock markets and commodities while dampening the dollar.Fed Chair Janet Yellen said the Fed was unlikely to hike rates for "at least a couple of meetings", meaning April of next year at the earliest.Rising U.S. interest rates increase the opportunity cost of holding non-interest bearing assets such as gold, and also lift the dollar, in which the metal is priced. The dollar eased against a basket of currencies on Thursday.Spot gold was up 1.5 percent at $1,206.10 an ounce by 1247 GMT. On Wednesday, it fell as far as $1,183.73, its lowest since Dec. 1.A break of stops above $1,200 an ounce sparked a rally in gold in early European trade, said Afshin Nabavi, head of trading at MKS, sending prices to a peak ...

Swiss gold exports to China fell 18pc in November LONDON: Switzerland's gold exports to China fell 18 percent last month, data from the Swiss customs bureau showed on Thursday, although shipments to Hong Kong rose by around a third.Switzerland, a major refining and trading centre for precious metals, exported 34,700 kilograms of gold last month to China, the world's biggest gold consumer. That compares to 42,500 kg in October.While this was offset by the increase in shipments to Hong Kong, UBS said in a ...
Sugar, arabicas recover, edge off multi-month lows LONDON: Sugar, arabica coffee and cocoa futures on ICE rose on Thursday, recovering in line with oil prices after their slump to five-year lows this week.Sugar prices have been pressured by tumbling oil prices as this makes cane-derived ethanol biofuel less competitive.March raw sugar traded up 0.23 cent, or 1.6 percent, at 14.95 cents a lb at 1444 GMT, having touched 14.62 cents on Wednesday, the lowest since Sept. 24."The oil market is rallying so ...
Bangladesh issues another tender to buy 50,000 tonnes wheat HAMBURG: Bangladesh's state grains buyer has issued another international tender to purchase and import 50,000 tonnes of wheat, European traders said on Thursday.Optional origin was sought with shipment 40 days after contract signing. Tender closing date is Jan. 4, 2015, traders said.A separate tender from Bangladesh for the purchase of 50,000 tonnes of wheat closes on Dec. 23. Bangladesh's state grain buyer wants to import 900,000 tonnes of wheat in the current fiscal year.Copyright Reuters, ...
Wheat surges again on Russia export jitters PARIS/SYDNEY: US and European wheat futures raced higher again on Thursday as signs that Russia is trying to slow down exports in a bid to curb domestic prices continued to unnerve the market.Price movements were volatile, however, as some investors rushed to buy on the risk of reduced supply from Russia while others saw a selling opportunity given ample global grain stocks.In a meeting with grain exporters on Wednesday, Deputy Prime Minister Arkady Dvorkovich said ...
Gold rises 2pc as Fed takes patient stance on rate hike LONDON: Gold climbed more than 2 percent on Thursday after the Federal Reserve said it would take a patient approach toward raising interest rates, lifting stock markets and commodities while dampening the dollar.Fed Chair Janet Yellen said the Fed was unlikely to hike rates for "at least a couple of meetings", meaning April of next year at the earliest.Rising U.S. interest rates increase the opportunity cost of holding non-interest bearing assets such as gold, and ...
Wheat up on concern over Russian export restrictions, soy weak HAMBURG/SINGAPORE: Chicago wheat rose again on Wednesday on concern that leading exporter Russia may curb exports, concern which had sparked a surge to six-month highs on Tuesday.Soybeans fell for a third consecutive day, under pressure from improving crop prospects in South America.Russia's economic woes are being watched closely by wheat traders because the country may be forced to protect domestic bread prices from its currency crisis later in the 2014/15 marketing year, analysts said."The focus ...

 



 
Index Closing Chg%
Arrow DJIA 17,356.87 1.69
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Arrow FTSE 6,336.48 0.07
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyOctober
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 15, 2014
Reserves $13.922 bln