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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 betting was that while the tone was likely to be upbeat on the economy, Yellen would emphasise that interest rates were set to remain near zero for some time. "The Fed will want to hold the market's hand as much as possible over this period so they will be extremely keen to try and comfort the market in any way they can," said Stewart Richardson, partner at macro hedge fund RMG Wealth Management. "At the ...

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 ...
Commodity prices rise despite poor US, Chinese data LONDON: Oil and metals prices rose this week but gains were capped by poorly-received data out of the United States and China, the world's two biggest economies.Coffee and sugar futures jumped as exceptionally dry Brazilian weather raised concerns over tight supplies, while cocoa hit new peaks on deficit fears.Traders on Friday reacted with disappointment to data showing that the US economy added 113,000 jobs in January, far fewer than market expectations of 175,000.The outcome signalled ...
Copper lifted by China demand hopes LONDON: Copper rose on Friday to post its largest weekly rise for the year, boosted by hopes of a pickup in demand after the Chinese New Year and by limited short-term availability of the metal in the physical market. Metals were little affected by Friday's data showing that US employers hired far fewer workers than expected in January, causing concerns that economic growth was losing momentum. "The poor US data is probably more positive than ...
Gold set for weekly gain; focus on US jobs report LONDON: Gold edged higher on Friday and was set for its sixth week of gains out of seven as Chinese buyers returned from a week-long holiday, while investors awaited the US payrolls report for clues on economic growth. US hiring likely snapped back from a three-year low in January and kept the unemployment rate steady at 6.7 percent, according to a Reuters poll of economists, but some warned extreme cold weather could again have had ...
Copper lifted by growth hopes, US data in focus LONDON: Copper rose on Friday, on track to post its largest weekly rise for the year, boosted by encouraging labour market data from the United States and limited short-term availability of the metal in the physical market. Three-month copper on the London Metal Exchange was at $7,141.75 a tonne at 1003 GMT, up from a close of $7,130 on Thursday. The metal used in power and construction has gained 1.1 percent so far this week. ...


Index Closing Chg%
Arrow DJIA 16,408.54 0.10
Arrow Nasdaq 4,095.52 0.23
Arrow S&P 1,864.85 0.14
Arrow FTSE 6,625.25 0.62
Arrow DAX 9,409.71 0.99
Arrow CAC-40 4,431.81 0.59
Arrow Nikkei 14,516.27 0.68
Arrow H.Seng 22,760.24 0.28
Arrow Sensex 22,628.84 1.58

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Foreign Debt $60.9bn
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WeeklyApril 14, 2014
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