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Gold dips below $1,200/oz after upbeat Fed statement LONDON: Gold prices dipped below $1,200 an ounce on Thursday and silver slid to a 4-1/2 year low after the Federal Reserve ended its bond-buying stimulus programme with unexpectedly upbeat comments about the economy.Spot gold fell as low as $1,199.90 an ounce and was down 0.7 percent at $1,203.30 an ounce at 1447 GMT. US December gold futures were down $22.30 at $1,202.60. Silver was down 3.2 percent at $16.50 an ounce, having earlier hit its lowest since March 2010 at $16.45. The Fed statement on Wednesday, coupled with unexpectedly strong third-quarter US economic growth data, sent the dollar to its highest since Oct. 6, while US interest rate futures shifted to show better-than-even chances of a rate rise next September. Previously, they had indicated a rise in October. That dented interest in gold, which as a non-yielding asset tends to benefit from ultra-low rates. The US central bank largely ...

Gold slides towards $1,200/oz after upbeat Fed statement LONDON: Gold prices slid towards $1,200 an ounce on Thursday, hitting their lowest in 3-1/2 weeks, after the Federal Reserve ended its bond-buying stimulus programme on an unexpectedly hawkish note. Spot gold fell as low as $1,201.21 an ounce and was down 0.5 percent at $1,206.40 an ounce at 1015 GMT. US December gold futures were down $19 at $1,205.80. The Fed statement on Wednesday sent the dollar to its highest since Oct. 6, while ...
Copper falls 1 pct as dollar rallies on Fed comments LONDON: Copper fell more than 1 percent on Thursday as the dollar rallied after the US Federal Reserve sounded a relatively hawkish tone on monetary policy, though losses were limited by gains in Chinese equities. The Federal Reserve retained its guidance Wednesday that overnight borrowing costs would remain near zero for a "considerable time", but it dropped a characterization of the US labour market slack as "significant". Investors perceived this as a show of confidence ...
Gold steadies as investors expect cautious stance by Fed LONDON: Gold steadied near $1,230 an ounce on Wednesday as investors awaited guidance from the U.S. Federal Reserve, widely expecting it to reaffirm willingness to wait for an extended period before raising interest rates.The Fed, which wraps up a two-day policy meeting later on Wednesday, is widely expected to end its two-year-old bond-buying stimulus, known as quantitative easing, as the U.S. economy gathers momentum.Fed officials have also stressed, however, that they are in no hurry ...
Gold firms on weak US durable goods data; Fed eyed NEW YORK/LONDON: Gold prices edged higher on Tuesday as softer-than-expected US consumer spending data pressured the dollar, ahead of a closely-watched Federal Reserve policy statement. Data showed demand for US-made non-defence durable goods, excluding aircraft, fell 1.7 percent in September, its biggest drop in eight months and a cautionary note for an economy that otherwise seems to be moving forward at a steady clip. Investors are focusing on the Fed's latest policy statement on Wednesday ...
Soy surge continues despite advancing harvest PARIS/SINGAPORE: Chicago soybean futures extended gains on Tuesday to hit an six-week high, supported by soaring soymeal prices, pressures in the U.S. cash market and short-covering by investment funds.The soy rally again spilled over into corn, which rose to a three-month high, and wheat, which rose for a second session.The buying impetus in soybeans eclipsed supply pressure from an advancing U.S. harvest, which is expected to yield record-large soybean and corn crops.Chicago Board Of Trade ...
Gold climbs after drop in US durable goods orders LONDON: Gold rose on Tuesday after a surprise fall in U.S. durable goods orders in September pressured the dollar, but moves were muted ahead of a closely-watched Federal Reserve meeting beginning later on Tuesday.The Fed is tipped to announce the end of its massive bond-buying stimulus programme, known as quantitative easing (QE), at the conclusion of the two-day meeting on Wednesday.Ahead of that, gold has been pushed higher by a drop in the dollar versus ...

 



 
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Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln