KLSE Comex Recommendations

INTERNATIONAL COMMODITY NEWS :

Gold prices held mostly steady to weaker on Tuesday with the dollar the key focus as investors weigh prospects for further market turmoil from Greece’s latest political turmoil and general concerns over the euro zone.On the Comex division of the New York Mercantile Exchange, gold futures for February delivery eased 0.06% to trade at $1,203.30 a troy ounce during U.S. morning hours, after hitting a daily peak of $1,202.00.Overnight,gold futures edged higher on Monday, as investors sought shelter from steep losses in the oil market, amid lingering fears of a global economic slowdown.

TRADING STRATEGY :
BUY GOLD ABOVE 1208.5 TARGET 1213.5 1219.5 SL 1202.5
SELL GOLD BELOW 1201 TARGET 1196 1191 SL 1207

U.S. stocks suffer largest loss in 3 months

U.S. stocks were clobbered Monday in an indiscriminate sell-off triggered by a renewed plunge in crude oil prices and surging dollar, which left the Dow and the S&P with their worst losses since October.

The S&P 500 SPX, -1.83%  closed off session lows but still suffered its largest one-day decline in three months. The index also suffered its longest losing streak in a 12-month period, falling for the fourth-straight session. The benchmark index lost 37.62 points, or 1.8%, to 2,020.58.

Euro recovers from 9-year low

The euro stabilized Monday during North American morning trade after falling to its lowest level in nine years despite a weak reading on German inflation for December, as investors bought euros to lock in profits.

The euro EURUSD, +0.13%  fell as low as $1.18 against the U.S. dollar in early trading Monday — its lowest level since March 2006 — and was last trading above $1.19.

The euro’s weakness has been exacerbated by the U.S. dollar’s broad-based strength, which has pressured currencies across the board. The ICE U.S. Dollar Index, a measure of the greenback’s strength against a trade-weighted basket of currencies, DXY, -0.08%  rose to a nine-year high Wednesday as investors globally bet on a recovery in the U.S. economy.

The British pound GBPUSD, +0.08% recovered to $1.525 Monday, after hitting a 17-month low of $1.51 earlier in the session.

Gas Market update

February natural gas NGG15, +1.84%  fell 12 cents, or 4%, to $2.8820 per million British thermal units. That was natural gas’s lowest finish since Sept. 24, 2012.

February heating oil HOG5, +0.41%  declined 4.7 cents, or 2.6%, to $1.7492 a gallon, its lowest since Sept. 29, 2009. Both gasoline and heating-oil futures have declined for three straight sessions.

Gasoline Market Update

Gasoline for February delivery RBG5, -3.43%  fell 5 cents, or 3.6%, to settle at $1.3814 a gallon on Nymex. That was gasoline’s lowest settlement since April 1, 2009.