Gold for February delivery GCG5, -0.29% shed $3.10, or 0.3%, to settle at $1,222.50 an ounce, while March silver SIH5, -0.45% lost 6 cents, or 0.3%, to $17.06 an ounce.
Gold slips but records weekly gain of almost 3%
Saturday, 13 December 2014
Gold for February delivery GCG5, -0.29% shed $3.10, or 0.3%, to settle at $1,222.50 an ounce, while March silver SIH5, -0.45% lost 6 cents, or 0.3%, to $17.06 an ounce.
Malaysia: Stocks down at the close of trading
Friday, 12 December 2014
Some 1.45 billion lots, valued at RM1.78 billion were traded. Losers outnumbered gainers 690 to 178.
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KLSE Stock Recommendations
MARKET UPDATES :
Malaysia Airports Holdings Bhd (MAHB) is in the midst of discussions and scrutiny in its preparation to answer the issues raised by the Public Accounts Committee (PAC) on matters related to the construction of klia2. “We accept with open heart…and is now examining every issue voiced out by PAC and promise to answer each issue because they are related,” said MAHB managing director Datuk Mohd Badlisham Ghazali. “We accept with open heart…and is now examining every issue voiced out by PAC and promise to answer each issue because they are related,” said MAHB managing director Datuk Mohd Badlisham Ghazali.
STOCK RECOMMENDATION :
BUY SAPURA KENCANA ABOVE 2.41 TARGET 2.44 2.48 SL 2.37
Malaysia Airports Holdings Bhd (MAHB) is in the midst of discussions and scrutiny in its preparation to answer the issues raised by the Public Accounts Committee (PAC) on matters related to the construction of klia2. “We accept with open heart…and is now examining every issue voiced out by PAC and promise to answer each issue because they are related,” said MAHB managing director Datuk Mohd Badlisham Ghazali. “We accept with open heart…and is now examining every issue voiced out by PAC and promise to answer each issue because they are related,” said MAHB managing director Datuk Mohd Badlisham Ghazali.
STOCK RECOMMENDATION :
BUY SAPURA KENCANA ABOVE 2.41 TARGET 2.44 2.48 SL 2.37
Forex Market Update
TRADING TIPS :
EUR/USD held steady at 1.2456, as investors remained cautious following a surprise decision by the Greek government to bring forward a parliamentary vote for president to next week from February. Markets were spooked by the risk of snap elections which could take place if Prime Minister Antonis Samaras’ candidate is not approved by parliament, which could see the anti-bailout Syriza party take power.But the dollar still remained supported after last week’s strong U.S. jobs report for November prompted investors to bring forward expectations for the first hike in interest rates to mid-2015 from September 2015.
INTRADAY OUTLOOK
Support: 1.2413
Resistance: 1.2476
RECOMMENDATION:
1. Buy EUR/USD Above 1.2478-TG:1.2498/1.2528 SL 1.2448
2. Sell EUR/USDINTRADAY OUTLOOK
INTRADAY OUTLOOK
Immediate Support: 118.15
Immediate Resistance: 118.86
RECOMMENDATION:
1. Buy USD/JPY Above 118.86-TG:119.06/119.36 SL 118.56
2. Sell USD/JPY Below 118.13-TG:117.93/117.63 SL 118.43
KLSE Comex Recommendations
INTERNATIONAL COMMODITY NEWS :
Crude oil prices dipped sharply in Asia on Friday, extending overnight losses as over-supply worries weighed. On the New York Mercantile Exchange, West Texas Intermediate crude oil futures for delivery in January traded at $58.97 a barrel, down 1.64%, after hitting an overnight session low of $60.10 a barrel and off a high of $61.67 a barrel. A stronger greenback tends to make oil a less attractive commodity on dollar-denominated exchanges, especially in the eyes of investors holding other currencies.The U.S. Commerce Department reported earlier that retail sales rose 0.7% last month, beating expectations for a gain of 0.4%
TRADING STRATEGY :
BUY GOLD ABOVE 1226.60 TARGET 1231.60 1237.60 SL 1220.60
SELL GOLD BELOW 1223 TARGET 1218 1212 SL 1229
Crude oil prices dipped sharply in Asia on Friday, extending overnight losses as over-supply worries weighed. On the New York Mercantile Exchange, West Texas Intermediate crude oil futures for delivery in January traded at $58.97 a barrel, down 1.64%, after hitting an overnight session low of $60.10 a barrel and off a high of $61.67 a barrel. A stronger greenback tends to make oil a less attractive commodity on dollar-denominated exchanges, especially in the eyes of investors holding other currencies.The U.S. Commerce Department reported earlier that retail sales rose 0.7% last month, beating expectations for a gain of 0.4%
TRADING STRATEGY :
BUY GOLD ABOVE 1226.60 TARGET 1231.60 1237.60 SL 1220.60
SELL GOLD BELOW 1223 TARGET 1218 1212 SL 1229
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