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Gold pares gains after US inflation data LONDON: Gold pared gains on Friday, heading for a second weekly drop, after data showing US consumer prices rose in March tempered speculation the Federal Reserve will delay its first interest rate rise in nearly a decade. The metal held above the $1,200 an ounce level, however, which it broke above earlier this week after a run of downbeat US data led analysts to reassess expectations the Fed would raise rates in June. Spot gold was up 0.4 percent at $1,201.31 an ounce at 1339 GMT, off an earlier high of $1,207.60 and down 0.5 percent on the week. US gold futures for June delivery were up $3.50 an ounce at $1,201.50. Gold is sensitive to US monetary policy, as rising rates would boost the dollar, in which the metal is priced, while lifting the opportunity cost of holding non-yielding bullion. "Even if the rate rise gets pushed back, people ...

London tin set for 11 pct weekly loss as demand falters MELBOURNE: London tin capitulated to more than five-year lows on Friday and is on track for a brutal 11 percent weekly fall, as growing supply from Myanmar and torpid demand punish prices.Tin has given up nearly a quarter of its value this year, and the price fall is likely to trigger production cuts at some smelters in top exporter Indonesia and also in China, industry group ITRI said on Thursday. "I'm selling a bit more ...
Copper climbs on rally in Chinese shares, stimulus hopes LONDON: Copper notched up its strongest gain in four weeks on Thursday on a rally in Chinese stocks and hopes for more stimulus to boost the economy of the world's top metals consumer.Three-month tin on the London Metal Exchange ended at $15,000 a tonne from $15,900 at the close on Wednesday. Worries about an oversupplied market earlier pushed tin down more than 7 percent to $14,705, the lowest since November 2009.Lead and zinc touched four-month ...
EU wheat at 4-month low on US rain, technical selling PARIS: Euronext wheat futures extended losses on Thursday to hit a 4-month low as forecast rain curbed US prices and chart support levels in Europe were breached, encouraging bearish sentiment.The strength of the euro against the dollar, which hampers euro-denominated wheat's competitiveness on world markets, was also weighing on prices.May milling wheat on the Euronext market's main No. 2 wheat contract unofficially closed down 2.00 euros or 1 percent at 183.25 euros a tonne.It earlier ...
Gold slides below $1,200/oz as dollar pares losses LONDON: Gold slid below $1,200 an ounce on Thursday as the dollar pared losses after upbeat US factory data and demand for physical metal stayed weak, though uncertainty over the timing of a Federal Reserve rate increase underpinned prices. The dollar index, strength in which tends to weigh on gold, recovered from lows against a basket of currencies after a survey showed factory activity in the US mid-Atlantic region accelerated in April.Spot gold was down ...
Rio Tinto to slash costs further to endure bumpy ride in iron ore LONDON: Rio Tinto, the world's second largest mining company, warned of "continued bumps" in its key iron ore market and vowed to stay focused on slashing costs to be the last man standing at a tough time for the sector. The London-listed company and its rivals BHP Billiton and Vale are trying to cut production costs to the bone to remain competitive after a tumble in the price of iron ore in the last couple ...
London copper prices firm as weak US data drags on dollar MELBOURNE: London copper edged higher on Thursday, but stayed near four-week lows, after weak US factory growth dragged on the dollar, easing pressure on commodity prices.US industrial output posted its biggest drop in more than 2-1/2 years in March, pushing the dollar to its lowest against a basket of currencies in more than a week. A weaker greenback gives commodity buyers holding other currencies more purchasing power.Still, malaise in China's economy, where growth hit its ...


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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
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WeeklyApril 16, 2015
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