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Gold stumbles to 6-month low after Fed stimulus trim LONDON: Gold slid more than 1 percent on Thursday to its lowest since late June after the U.S. Federal Reserve took its first step away from the ultra-loose monetary policy that had helped drive bullion prices to record highs in recent years.The Fed said on Wednesday that the U.S. economy was finally strong enough for it to start scaling back its massive bond-buying scheme, winding down the era of easy money that saw gold rally to $1,920.30 an ounce in 2011.Spot gold was down 1.2 percent at $1,202.10 an ounce at 1000 GMT, having earlier touched a low of $1,200.25. U.S. gold futures for February delivery were down $32.90 an ounce at $1,202.10.That move came despite the Fed blunting its taper with a continued dovish message on interest rates - that tapering was not tightening."This is another sign of increasing normalisation for the world economy," Macquarie analyst Matthew Turner said. ...

Wheat hovers near 18-month low, exports eyed PARIS/SYDNEY: US wheat futures edged higher on Thursday, halting a five-day slide but held close to an 18-month low as a stronger dollar and ample global supply deterred buyers.Soybeans recovered slightly from the previous session's losses of more than 1.5 percent, while corn inched up.A broad rise in the dollar, after the Federal Reserve's decision on Wednesday to trim its aggressive bond-buying programme, curbed buying impetus as it made US-priced commodities more expensive internationally.Chicago Board ...
Copper has biggest fall in 3 weeks on Fed taper decision LONDON: Copper dipped on Thursday, slipping further from near two-month highs hit this week as investors digested the U.S. central bank's decision to trim its massive stimulus programme on a brightening U.S. economic outlook.The U.S. Federal Reserve ended months of market speculation by deciding to cut its monthly bond purchases by $10 billion to $75 billion on Wednesday, and sought to temper the long-awaited move by recommitting to rock bottom interest rates."The response from the ...
Soymeal up with CBOT on South American heat ROTTERDAM: Soymeal on Europe's meals and feeds market continued to rise on Wednesday, taking a cue from Tuesday's gains in CBOT soymeal futures, which rose sharply on export demand and the outlook for hotter and drier weather in South America's growing areas."Prices on the European cash market were fixed on Chicago's strong close and buyers were not prepared to pay the higher levels, anticipating levels should come down eventually," one broker said.South American soymeal was ...
Copper falls, market cautious ahead of Fed decision LONDON: Copper fell on Wednesday, slipping further from near two-month highs hit this week, with investors cautious as recent upbeat economic data stoked expectations of an early trimming of the U.S. monetary stimulus programme.The U.S. central bank ends a two-day policy meeting later on Wednesday to decide on the future of its $85 billion-a-month bond purchases which have expanded liquidity, funnelling money into commodities such as metals.Benchmark copper on the London Metal Exchange (LME) traded ...
Gold edges higher ahead of Fed policy statement LONDON: Gold firmed a touch on Wednesday ahead of a keenly awaited policy announcement from the Federal Reserve, as investors awaited further clues on when the U.S. central bank will trim its monetary stimulus programme.Speculation that the Fed will taper its $85 billion monthly bond purchases, in a move away from the ultra-loose monetary policy that sent gold prices to record highs in 2011, has knocked the metal 25 percent lower this year.Worries that this ...
Russian diamond miner Alrosa sees rough gem prices MOSCOW: Russian diamond mining company Alrosa said on Tuesday global prices for rough gems may rise by two to three percent in 2014, while it plans to keep 2014 production flat. The firm, which competes with Anglo American-owned De Beers for the position of the world's largest diamond miner, produced about 36 million carats in 2013, up from 34.4 million carats in 2012. Alrosa plans to spend 39 billion roubles ($1.2 ...


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