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Gold extends gains on rebound from six-year lows LONDON: Gold gained on Friday, extending the previous day's rally, as expectations that the Federal Reserve will take its time over raising interest rates prompted a wave of short covering after prices hit near six-year lows. The market had become overextended on the downside after falling to its lowest since February 2010 at $1,064.95 an ounce on Thursday, analysts said. A suggestion in the minutes of the Federal Reserve's last meeting that the bank would move cautiously on rates prompted the short covering. Spot gold was up 0.3 percent at $1,085.13 an ounce at 1037 GMT, while US gold futures for December delivery were up $6.70 an ounce at $1,084.60. The metal is set to end the week little changed after prices jumped 1.1 percent on Thursday. "We are still unclear how much of a rate hike there will be by the Fed, but given all the comments which we ...

Zinc surges on Chinese output cuts; nickel off 2003 low LONDON: Zinc prices surged nearly 6 percent on Friday after top Chinese smelters agreed to cut output next year by 500,000 tonnes, sparking worries about shortages. Zinc, mainly used in galvanizing steel, rebounded a day after sinking to the weakest in six years, jumping on the back of the joint announcement by Chinese zinc producers to slash production. "The scale of those cuts is quite significant. A surge of refined output from China has been ...
Tunisia buys 125,000 T soft wheat, 92,000 T durum, 50,000 T barley-trade PARIS: Tunisia's state grains agency purchased 125,000 tonnes of soft wheat, 92,000 tonnes of durum and 50,000 tonnes of feed barley in an international tender on Thursday, European traders said. It paid between $203.64 and $204.95 a tonne, including cost and freight, for the soft wheat, and between $296.97 and $299.50 a tonne c&f for the durum. For the barley, it paid $189.37 and $192.24 a tonne c&f, traders said. The origin of the grain ...
Indian sugar exports unlikely to trigger Brazilian discounts LONDON: An expected influx of Indian sugar exports to the global market is unlikely to spur rival exporters in Brazil to increase discounts because Indian tonnages are likely to be moderate, European trade sources said on Thursday. They said that shipments of Indian raw or low=quality white sugar for export were likely to represent only a small fraction of Brazilian raw sugar tonnages. "I don't think the Brazilians will discount further -- some 2 million ...
Gold bounces from multi-year low as weak dollar sparks rebound LONDON: Gold rose 1 percent on Thursday, rebounding from near six-year lows as indications from the Federal Reserve that it may move cautiously into the rate hiking cycle weighed on the dollar and prompted investors to cover short positions. Fed officials on Wednesday continued to flag December as a likely time for US interest rates to rise after seven years near zero, but the central bank signalled an intention proceed slowly and steadily after that. ...
Gold edges off near six-year low as dollar dips LONDON: Gold prices edged higher on Thursday, recovering from near six-year lows as the dollar took a breather after a run of gains, though the precious metal remained under pressure from expectations a U.S. rate hike is imminent.Federal Reserve officials on Wednesday continued to flag December as a likely time for U.S. interest rates to rise after seven years near zero.Rising rates tend to weigh on gold, as they lift the opportunity cost of holding ...
Raw sugar recovers as rains hit Brazil, cocoa firms LONDON: Raw sugar futures on ICE edged up on Thursday as wet weather in Brazil hampered the cane crush, while cocoa firmed supported by lower bean arrivals in top grower Ivory Coast.Arabica coffee edged up in a technical correction after falling on Wednesday, and was supported by a weaker dollar.March raw sugar on ICE was up 0.16 cents, or 1.1 percent, at 14.63 cents per lb at 1214 GMT.White sugar rose, with March up $4.80, ...


Index Closing Chg%
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Arrow Nikkei 19,944.41 0.49
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Arrow Sensex 25,958.63 0.71

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