Out of bounds

Out of bounds



Singapore
Gold Drops as
Gold Closes Gold Prices dropped as the US dollar rallied on Monday after the precious metal hit its highest level in a month as political uncertainty in the US ahead of the US central bank's monetary policy meeting next week.
Spot gold settled at $ 1254.45 an ounce at the end of the US session after touching $ 1258.79, its highest level since June 23.
US gold futures fell 60 cents, or 0.05 percent, to settle at $ 1254.30 an ounce.
Traders are watching gold demand in India, a major consumer of the yellow metal, after the government began collecting a 3 percent gold tax on July 1.
Among other precious metals, the price of silver in spot transactions rose. 02 per cent to $ 16.47 an ounce after rising to $ 16.59, the highest level since July 3.



CAIRO -
Foreign
reserves at the Central Bank of Egypt are approaching $ 35 billion , President Abdel Fattah al-Sisi said at a youth conference in Alexandria.
The Central Bank of Egypt said earlier this month that foreign reserves reached 31.305 billion dollars at the end of June.
"Did anyone imagine 10 months that there would be $ 35 billion," Sissi said.
Foreign reserves have started a rising trend since Egypt freed the pound exchange rate in November under a $ 12 billion lending program from the International Monetary Fund aimed at supporting the economy.
Egypt's economy has been struggling since the 2011 uprising that ousted Hosni Mubarak's three-decade rule, but the government hopes the three-year-old IMF loan will put the country on track.



LONDON -
Inflation has affected
candy lovers as manufacturers are making fewer chocolate and other sweets at the same price, according to the National Statistics Office in Britain.
According to a report on the approach of food producers, more than 2500 varieties of sweets are now smaller than in 2012, according to Reuters.
But the impact of official inflation measures was notable only for sugar, jam, local drink, chocolate and sweets, contributing about 1.22 percent in the inflation rate for confectionery ingredients since 2012.
The data comes after some of the most popular chocolates in the UK, such as Toblerone, Mars and products such as Multiforms, have been reduced.
The bureau said there was no noticeable change after the decision of British voters in a referendum last year to withdraw from the European Union, which hurt the value of the pound sterling and increased import costs.


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