KLSE Comex Recommendations

INTERNATIONAL COMMODITY NEWS :

Gold prices were marginally higher in early Asia on Tuesday ahead of the initial HSBC (LONDON:HSBA) manufacturing gauge for March that will also put copper into focus. In China, the March flash reading of the HSBC PMI will be released at 09:45 Beijing time (0145 GMT) and is expected at 50.6, a slight downtick from 50.7 in February. On the Comex division of the New York Mercantile Exchange gold futures for April delivery fell 0.10% to $1,189.100 a troy ounce.Overnight, gold futures edged up on Monday reaching two-week highs, amid modest gains from the euro against the U.S. Dollar. Gold prices have rallied since the middle of last week following relatively dovish comments from Federal Reserve chair Janet Yellen halted the dollar’s steep appreciation against the euro. Despite offering indications that the Fed will likely increase interest rates at some point this year, Yellen said the Fed will take a “data driven” approach on the timing of its first interest rate hike since 2009.



TRADING STRATEGY :

BUY GOLD ABOVE 1192 TARGET 1197 1203 SL 1186
SELL GOLD BELOW 1185 TARGET 1180 1174 SL 1191

Dollar weakens further against rivals on rate-hike bets

The dollar traded lower against its rivals Monday after recording its largest weekly percentage decline against the euro since October 2011.

The euro EURUSD, -0.21%  traded at $1.0945, its highest end-of-session level against the buck in three weeks, compared with $1.0821 Friday evening.

The dollar USDJPY, -0.02%  traded at 119.72 yen, its lowest level against the Japanese currency in nearly a month. It traded at 120.04 Friday.

The ICE U.S. Dollar Index DXY, +0.23% a measure of the buck’s strength against a basket of six rival currencies, was about 1% to 97.0000.

Platinum Market Update

April platinum PLJ5, -0.24%  settled up $3.30, or 0.3%, at $1,144.50 an ounce, while June palladium PAM5, +0.23%  fell $8.40, or 1.1%, to $770.70 an ounce.

May copper HGK5, +0.02%  tacked on 2.85 cents, or 1%, to $2.7895 a pound.

Gasoline Market Update

April gasoline RBJ5, -0.37%  rose more than a half cent to $1.804 a gallon and April heating oil HOJ5, -0.49%  settled at $1.731 gallon, down less than half a cent for the session.

Gas Market Update

April natural gas NGJ15, +0.18%  fell 5.3 cents, or 1.9%, to end at $2.733 per million British thermal units.