- Aluminium futures were trading lower during the noon trade in the domestic market on Monday as investors and speculators remained on the sidelines amidst muted physical demand for aluminium in the domestic spot market.Further sluggish demand for aluminium at the domestic spot market was on the back of trimming of bets by participants in the spot markets influenced aluminium prices at futures trade.
- Gold prices were under pressure in European trade on Monday, falling to a two-week low as the U.S. dollar rallied amid
indications the Federal Reserve could raise interest rates as early as next month.Gold for December delivery on the Comex division of the New York Mercantile Exchange dropped to a session low of $1,335.40 a troy ounce, a level not
seen since August 9.It was last at $1,337.35 by 2:46AM ET (06:46GMT), down $8.85, or 0.66%, after falling $11.00, or
0.81%, on Friday. - Oil prices fell nearly 3 percent on Monday as
China ramped up exports of refined products, U.S. oil producers added
rigs for an eighth consecutive week, and prospects emerged for increased
exports from Iraq and Nigeria.Brent crude futures (LCOc1) were trading
at $49.39 per barrel at 1028 GMT, down $1.49 from their last close.U.S.
West Texas Inter-
mediate (WTI) crude (Clc1) was down $1.27 at $47.25 a barrel.
- Less than two months in office, Philippines President Rodrigo Duterte is getting high marks from the business community for policies that could engineer an economic surge and companies say they are making new investments as a result.While Duterte may be getting headlines for a bloody war against drug dealers and users, less attention has been paid to one of Asia’s few economic success stories.
- The Bank of Japan’s near doubling of its purchases of Tokyo shares is causing investors to worry the central bank will
dominate financial markets, which could lead to price distortions as it continues to grease the economy.The BOJ’s buying spree will make it harder for investors to sift good companies from bad, and raises a host of other problems including misallocating capital, making equities trading more speculative and reducing incentives for companies to meet shareholder needs, analysts say. - The U.S. Federal Reserve has two guiding goals when designing monetary policy: maximum employment and stable inflation.But as the country’s central bankers converge for their annual symposium in Jackson Hole, Wyoming this week, they are under increasing pressure to reform their own system and goals to better reflect the diversity of America and its incomes.
- BUY GOLD ABOVE 1337 TARGET 1342 1348 SL BELOW 1332.
- SELL GOLD BELOW 1331 TARGET 1326 1320 SL ABOVE 1336.
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