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 IForex Recommendations

TRADING TIPS :

GBP/USD hit 1.4797 during European morning trade, the pair’s lowest since March 20; the pair subsequently consolidated at 1.4820, slipping 0.20%.The pound fell to one-week lows against the U.S. dollar on Friday, as demand for the greenback remained supported by the previous session’s upbeat U.S. data and as markets eyed an upcoming report on U.S. fourth quarter growth.The dollar found broad support after data on Thursday showing that the number of people filing unemployment assistance in the U.S. last week fell to a five-week low sparked optimism over the strength of the job market.




INTRADAY OUTLOOK
Support: 1.4837
Resistance: 1.4897

RECOMMENDATION:
1. Buy GBP/USD Above 1.4899-TG: 1.4919/1.4949 SL 1.4869
2. Sell GBP/USD Below 1.4835-TG: 1.4815/1.4785 SL 1.4865

INTRADAY OUTLOOK

Support: 1.0788

Resistance: 1.0848

RECOMMENDATION:

1. Buy EUR/USD Above 1.0850-TG: 1.0870/1.0900 SL 1.0820

2. Sell EUR/USD Below 1.0786 -TG:1.0766/1.0736 SL 1.0816

KLSE Stock Recommendations

MARKET UPDATES :

The FBM KLCI index lost 5.05 points or 0.28% on Friday. The Finance Index fell 0.13% to 16080.56 points, the Properties Index up 0.41% to 1310.97 points and the Plantation Index down 0.03% to 7784.12 points. The market traded within a range of 5.01 points between an intra-day high of 1818.31 and a low of 1813.30 during the session.



STOCK RECOMMENDATION :
BUY MINETECH RESOURCES AT 0.090 – 0.089 TARGET 0.095 0.099 SL 0.081

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

KUALA LUMPUR MARKET UPDATE OF 30 - MARCH - 2015

Mild window dressing for key FBM KLCI stocks sent the 30-stock up nearly seven points in mid-morning Monday for the first quarter ending March 31.
At 10.30am, the #KLCI was up 6.89 points or 0.38% to 1,820.26. Turnover was 620.43 million shares valued at RM285.50mil. There were 290 gainers, 240 losers and 269 counters unchanged.
However, BIMB Securities Research expects investors to be on the sidelines with some downtrend bias. It expects the KLCI to trend between the 1,810 and 1,815 range.
In the week ended March 27, foreign funds were net buyers on Bursa Malaysia at RM352.2mil. However, they were net sellers on Friday at -RM19.2mil, the research house said.
BAT was the top gainer, up 76 sen to RM68.80, DutchLady added 22 sen to RM47.90 while Nestle gained 10 sen to RM73.90. However, GAB lost 22 sen to RM14.04.