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Oil, gold prices hit multi-month highs LONDON: Oil and gold prices hit multi-month peaks this week on improved demand prospects in the world's two biggest economies, the United States and China, and owing to a weaker dollar. OIL: Global crude prices rallied on improving US demand prospects.On Wednesday, US crude struck the highest level for four months at $100.37 a barrel, while Brent achieved the steepest peak since the start of year at around the $110 a barrel mark."Renewed concerns of colder weather in the US bolstered support" for New York prices, said Kash Kamal, research analyst at Sucden brokers. World oil markets are unexpectedly tight as growth in advanced economies picks up, the IEA warned on Thursday, urging the OPEC cartel of crude producing countries to skip a seasonal output drop as stocks touch six-year lows.The International Energy Agency (IEA) said a pick up in demand in advanced countries, led by the United States, has ...

Gold races above $1,300; on track for best week in 6 months LONDON: Spot gold hit three-month highs on Friday and looked set to post its biggest weekly gain in six months as more weak US data raised fears about economic growth, hurting the dollar. Spot gold rose to its highest since Nov. 8 at $1,312.40 earlier in the session, and was up 0.8 percent to $1,311.90 an ounce by 1112 GMT. It is up around four percent for the week - the largest such gain since ...
CBOT wheat climbs to 5-week peak; corn, soy also higher LONDON: Wheat futures on the Chicago Board of Trade rose to a five-week high on Friday, boosted partly by concerns about dry weather in the US Plains, while soybeans and corn also edged higher. CBOT March wheat rose 5-3/4 cents or 1 percent to $6.01-1/4 a bushel by 1224 GMT after peaking at $6.02-1/2, the highest level for the front month since Jan. 8. "The wheat market is very cautious as it has been a ...
Arabica coffee slips as Brazil weather concerns ease LONDON: ICE arabica coffee futures edged lower on Friday as dealers monitored improving weather conditions in top grower Brazil, where much needed rains were resuming. Sugar prices were also lower, while cocoa was little changed. Dealers said it would be difficult until the harvest to assess the damage to Brazil's coming coffee crop from recent unseasonably dry weather, although forecast rains were seen alleviating some of the stress to trees. "Dry summers like this are ...
Gold hits three-month high, shares up ahead of Yellen LONDON: Gold hit a three-month high and global shares edged higher on Tuesday as investors bet that the new head of the US Federal Reserve would navigate through her first testimony to Congress without rocking the markets boat. Fed Chair Janet Yellen is likely to face questions on the state of the labour market and the future pace of tapering when she appears before the House Financial Services Committee on Tuesday. Dealers said the latest ...
Russia's 2013 gold production up 13pc MOSCOW: Russian gold production rose by 12.6 percent in 2013 compared with a year before, beating a forecast, an industry body said on Tuesday. Total gold production was 254 tonnes in January-December, including output from mines, gold as a by-product of other metals and refined from scrap, the Gold Industrialists' Union said. Mined output rose 8.2 percent year-on-year to 214 tonnes. The organisation had expected Russia's 2013 gold production to reach 240 tonnes (7.7 million ...
Glencore's copper, coal output rise offsets decline in zinc, lead LONDON: Glencore Xstrata said on Tuesday its copper production rose 26 percent and coal output was up 4 percent in the year to the end of December 2013, offsetting a weaker performance in zinc and lead. The firm, which among the diversified miners has the biggest exposure to copper, said its own sourced copper production for the period rose to 1.5 million tonnes, driven by strong growth at its operations in Africa, South America and ...


Index Closing Chg%
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Foreign Debt $60.9bn
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WeeklyApril 14, 2014
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