KLSE Comex Recommendations

INTERNATIONAL COMMODITY NEWS :

Gold prices pulled away from a three-week low on Tuesday, but still remained below the $1,200 threshold as the strong U.S. dollar continued to weigh on the precious metal.On the Comex division of the New York Mercantile Exchange, gold futures for February delivery were up 0.23% to $1,182.50.The February contract ended Monday’s session 1.35% lower at $1,179.80 an ounce.The dollar remained supported after the Federal Reserve signaled last week that it was on track to raise interest rates next year but said it was taking a patient stance.Higher U.S. interest rates would boost the greenback and weigh on gold, which has benefited from central bank liquidity and a low interest rate environment since the 2008 financial crisis.

TRADING STRATEGY :

BUY GOLD ABOVE 1180 TARGET 1185 1191 SL 1174
SELL GOLD BELOW 1172 TARGET 1167 1161 SL 1178

More records for U.S. stocks as Dow tops 18,000 for first time

The Dow industrials closed above 18,000 for the first time ever and the S&P 500 notched up its 51st record close of the year, underscoring confidence in the strength of the U.S. economy.

The S&P 500 index SPX, +0.17%   set an intraday record of 2,086.75 and closed up 3.6 points, or 0.2%, at 2,082.17. Energy and materials stocks led the gains, while the health-care sector closed with a 2.2% loss.

Dollar jumps after stellar U.S. GDP data

The dollar moved sharply higher against most major currencies on Tuesday after data showed the U.S. economy fared much better than previously expected in the third quarter.

The WSJ Dollar Index BUXX, -0.11%  jumped 0.41% to 82.90, after trading with a loss earlier in the day. The ICE dollar index DXY, -0.05%  climbed 0.32% to 90.06. Against the yen USDJPY, -0.28% the dollar rose to ¥120.76, up from ¥120.04 late Monday.

The euro EURUSD, +0.06%  traded at $1.2175, down from $1.2232 late Monday.

The ruble USDRUB, -0.26%  improved to trade around 54.64 to the dollar, compared with 55.4182 late on Monday.

The pound GBPUSD, +0.01%  exchanged hands at $1.5509, down from $1.5592 on Monday, after a data revision indicated the U.K. economy is not growing as fast as thought

Platinum Market Update

January platinum PLF5, -0.13%  rose $9.60, or 0.8%, to settle at $1.191.70 an ounce, while March silver SIH5, +0.15%  rose nearly 8 cents, or 0.5%, to settle at $15.87 an ounce.

Palladium Market Update

March palladium PAH5, +0.05%  fell $1.20, or 0.1%, to settle at $814.05 an ounce, and high grade copper for the same month HGH5, +0.05%  declined less a penny to just under $2.87 a pound.