Copper Market Update

May copper HGK5, +0.16%  added a penny to $2.78 a pound. April platinum PLJ5, -1.22%  fell $12.40, or 1%, to $1,131.20 an ounce. 

June palladium PAM5, +0.40%  rose 1 cent to $742.45 an ounce, after losing around 4.9% last week.

Iran talks keep crude-oil futures under pressure in Asia

Talks over a possible relaxation of sanctions against Iran that may increase global oil supplies kept crude-oil futures near a week’s low Monday, while a supply disruption due to Saudi airstrikes on Yemen looked increasingly unlikely.

light, sweet crude futures for delivery in May CLK5, -1.45%   traded at $48.09 a barrel, down 86 cents, or 1.8%, in the Globex electronic session. May Brent crude LCOK5, -0.69%  on London’s ICE Futures exchange was down 56 cents, or 1%, to $55.86 a barrel.

Gold loses ground again as data anticipation builds

Gold bid farewell to a nice win streak to end last week and on Monday, losses looked set to build as equities drew buyers, pushing the precious metal lower.

Gold for April delivery GCJ5, -0.95%  shed $11.30, or 1%, to $1,188.30 an ounce. May silver SIK5, -1.63%  lost 29 cents, or 1.7%, to $16.78 an ounce.

KLSE Comex Recommendations

INTERNATIONAL COMMODITY NEWS :

Gold futures retreated on Friday afternoon amid a wavering dollar, as traders awaited comments from Federal Reserve chair Janet Yellen later in the session. On the Comex division of the New York Mercantile Exchange,gold futures for April delivery fell 5.80% or 0.48% to $1,199 a troy ounce. The decline came one day after gold reached a three-week high at $1,205.10, capping a rally precipitated by relatively dovish comments from Ms. Yellen on Mar. 18. Gold prices started trending downward on Mar. 6, after the release of a promising U.S. jobs report fueled speculation that the Fed could raise interest rates sooner than expected. Prices then dipped to a four-month low last week at 1,148.20 ahead of the Fed’s decision to remove its stance of remaining patient on the timing of a potential rate hike.

TRADING STRATEGY :

BUY GOLD ABOVE 1207 TARGET 1212 1218 SL 1201

SELL GOLD BELOW 1194 TARGET 1189 1183 SL 1200

Silver Market Update

May silver SIK5, -0.99%  settled down 7.1 cents, or 0.4%, at $17.069 an ounce, leaving it with a weekly gain of 1.1%.

May copper HGK5, -1.65%  dropped 4.35 cents, or 1.6%, to $2.7675 a pound — up roughly 0.2% for the week. April platinum PLJ5, -1.19%  fell $10.40, or 0.9%, to $1,143.60 an ounce — 0.2% higher from the week-ago settlement. 

June palladium PAM5, -4.62%  gave up $32.35, or 4.2%, to $741 an ounce, losing around 4.9% for the week.

Gas Market Update

April natural gas NGJ15, -2.81%  fell 8.2 cents, or 3.1%, to $2.59 per million British thermal units, with the contract down 7% for the week. The April contract expired at the close of Nymex trading.

Gasoline Market Update

April gasoline RBJ5, -4.55%  settled at $1.798 a gallon, down 8.4 cents, or 4.5%. It was about flat for the week. April heating oil HOJ5, -3.07%  fell 6 cents, or 3.4%, to $1.7275 a gallon—down about 0.4% on the week.

Oil surrenders some Yemen-related gains, still up 5% on week

Oil futures settled lower on Friday for the first time in six sessions but still gained about 5% for the week, with strength fueled in part by an escalating conflict in Yemen.

West Texas Intermediate crude for delivery in May CLK5, -5.83%  settled at $48.87 a barrel, down $2.56, or 5% on the New York Mercantile Exchange, with the front-month contract ending about 4.9% higher for the week following a 4.5% jump on Thursday.

May Brent crude on London’s ICE Futures exchange LCOK5, -5.19%  fell $2.78, or 4.7%, to $56.41 a barrel, leaving it with a weekly gain of around 2%.

Gold logs first fall in 8 sessions

Gold futures settled with a loss on Friday, putting an end to a seven-session stretch of gains that had lifted prices to their highest level in more than three weeks.

Gold for April delivery GCJ5, -0.54%  shed $5, or 0.4%, to settle at $1,199.80 an ounce Friday on Comex. During their seven-session climb, gold futures tallied a total gain of 4.9%. For the week, prices gained 1.3%.

KLSE Comex Recommendations

INTERNATIONAL COMMODITY NEWS :

Crude oil prices rebounded in Asia on Thursday with events in Yemen offering fresh support as Saudi Arabia and allies bomb Houthi rebel positions and President Abdrabbuh Mansour Hadi hangs onto power. On the New York Mercantile Exchange, WTI crude for May delivery rose 0.99% to $49.70 a barrel. Crude oil futures surged on Wednesday, amid increasing geopolitical risks related to the advance of the Iranian-backed Houthi rebels in Yemen. Global oil prices spiked by more than a dollar on Wednesday afternoon, as reports surfaced that Saudi Arabia is moving heavy military equipment, including artillery to its border with Yemen. The buildup came in response to the seizure of the al-Anad base, a Yemen airbase that had previously been used by U.S. troops in their fight against Al-Qaeda.




TRADING STRATEGY :
BUY GOLD ABOVE 1201 TARGET 1206 1212 SL 1195

SELL GOLD BELOW 1194 TARGET 1189 1183 SL 1200

Oil prices ease as market downplays supply threat from Yemen

Oil prices fell over a percentage point on Friday as traders estimated that the threat of a disruption to world crude supplies from Saudi Arabia-led air strikes in Yemen was low.

Goldman Sachs said in an overnight note that the strikes in Yemen would have little effect on oil supplies as the country was only a small crude exporter and tankers could avoid passing its waters to reach their ports of destination.

Internationally traded Brent crude futures were trading at $58.44 a barrel at 0211 GMT, down 75 cents from their last settlement. U.S. crude was down 88 cents at $50.55 a barrel.

Gas Market Update

April natural gas NGJ15, -0.64%  turned lower to trade at $2.666 per million British thermal units, down 5.7 cents, or 2.1%. The EIA reported Thursday an increase of 12 billion cubic feet in last week’s natural-gas supplies. Analysts polled by Platts forecast a rise of 12 to 16 billion cubic feet.

Silver Market Update

May silver SIK5, -0.53%  added 14 cents, or 0.8%, to end at $17.14 an ounce.

April gasoline RBJ5, -1.39%  traded at $1.862 a gallon, up 2.6 cents, or 1.4%, while April heating oil added 4.1 cents, or 2.4%, to $1.769 a gallon.

Copper Market Update

 

May copper HGK5, -1.09%  rose 1.9 cents, or 0.1%, to $2.811 a pound. 

April platinum PLJ5, -0.26%  tacked on $7.50, or 0.7%, to $1,154 an ounce.

June palladium PAM5, -0.72%  rose $7.95, or 1%, to $773.35 an ounce.

Oil races past $50 amid Saudi airstrikes in Yemen

Oil futures jumped past $50 a barrel on Thursday, headed for their fifth straight daily gain as Saudi Arabian airstrikes in Yemen raised fresh concerns over potential disruptions to crude supplies.

May crude CLK5, -2.00%  climbed 98 cents, or 2%, to $50.19 a barrel on the New York Mercantile Exchange. It hit an intraday high of $52.48 a barrel, according to FactSet data.

May Brent crude LCOK5, -1.61%  on London’s ICE Futures exchange rose $1.70, or 3%, to $58.18 a barrel.

Gold marks highest settlement since early March

Gold futures rallied past $1,200 an ounce on Thursday to settle at their highest level since early March as investors backed away from riskier assets amid a selloff for global equities and increased tension in the Middle East.

Gold for April delivery GCJ5, -0.26%  climbed $7.80, or 0.7%, to settle at $1,204.80 an ounce on Comex. Prices have now climbed for seven sessions in a row, tallying a total gain of 4.9% during their streak of gains.

Platinum Market Update

April platinum PLJ5, +0.30%  gained $5 to end at $1,146.50 an ounce.

June palladium PAM5, +0.31%  rose $1.70 to $765.40 an ounce.

May copper HGK5, +0.50%  fell 1 cent to $2.79 a pound.

Gas Market Update

April natural gas NGJ15, +0.44%  continued lower, settling at $2.723 per million British thermal units, down 6.3 cents, or 2.3%, after climbing 1.9% a day earlier.

Gasoline Market Update

April gasoline RBJ5, +1.21%  settled up 3.7 cents, or 2%, at $1.837 a gallon.

April heating oil HOJ5, +1.61%  added 2.2 cents, or 1.3%, to $1.728 a gallon.

May silver SIK5, +0.09%  rose 2 cents, or 0.1%, to settle at $17 an ounce.

Oil ends at more than 2-week high on Middle East turmoil

Oil futures settled above $49 a barrel on Wednesday, at their highest level in more than two weeks, with turmoil in Yemen raising concerns over crude supplies in the Middle East.

crude for delivery in May CLK5, +3.54%  settled at $49.21 a barrel, up $1.70, or 3.6%. Prices had been trading around $48.23 shortly before the supply data, pared gains after it, then spiked higher just over an hour before the scheduled close of trading on Nymex. The settlement was the highest for a front-month contract since March 9.

May Brent crude LCOK5, +2.64%  on London’s ICE Futures exchange rallied $1.37, or 2.5%, to $56.48 a barrel.