Gasoline Market Update

Nymex reformulated gasoline blendstock for February—the benchmark gasoline contract—fell 46 points to $1.2699 a gallon, while February diesel traded at $1.6426, 115 points lower.

ICE gasoil for February changed hands at $464.50 a metric ton, down $7.00 from Monday’s settlement.

Palladium Market Update

Palladium for March delivery PAH5, -0.31% shed $3.70, or 0.45%, to $810.40 an ounce, while April platinum PLJ5, +0.00%  gained $5.70, or about 0.46%, to $1,241 an ounce.

High-grade copper for March delivery HGH5, -1.67%  lost 3 cents to $2.69 a pound, touching levels not seen since October 2009.

Unsettled equities keep gold in favor

Gold prices broke higher again on Tuesday, maintaining their upward momentum with investors leaning toward caution as earnings season gets underway.

Gold for February delivery GCG5, +0.45%  was up $6.20, or 0.5%, to $1,239.00 an ounce, while March silver SIH5, +2.03% climbed 28 cents, or 1.7%, to $16.85 an ounce.

Oil extends selloff, WTI crude drops below $45-a-barrel

Oil prices fell for the second consecutive day with both the crude benchmarks down nearly 2% in Asian trade Tuesday.

On the New York Mercantile Exchange, light, sweet crude for delivery in February CLG5, -2.91%  traded at $44.96 a barrel, down $0.71 in the Globex electronic session. Brent crude LCOG5, -2.78%   for February delivery on London’s ICE Futures exchange fell $1.51, or 3.1%, to $45.92 a barrel.

Oil prices had lost around 5% on Monday alone, extending the selloff that has gripped oil markets since mid-2014, as sell-side analysts slashed price forecasts and warned of a prolonged glut in global oil markets that will extend well into 2015.

KLSE Comex Recommendations

INTERNATIONAL COMMODITY NEWS :

Gold prices eased lower in early Asia on Tuesdya with investors warily eyeing the global commodity complex as crude oil continues to plunge.On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at 1.230.90 a troy ounce, down 0.15%, while silver futures for March delivery climbed 0.05% to trade at $16.572an ounce.Overnight, copper prices fell to a more than five-year low on Monday, as growing concerns over a slowdown in global demand combined with a broadly stronger U.S. dollar dampened the appeal of the red metal.Copper for March delivery on the Comex hit a daily low of $2.700 a pound, a level not seen since October 2009, before trading at $2.717 during U.S. morning hours, down 1.37%. On early Tuesday in Asia, copper futures were flat at 2.722 a pound.Copper fell after data showed that Chinese producer price inflation dropped by the most in two years in December, underling concerns over a slowdown in demand.The Asian nation is the world’s largest copper consumer, accounting for almost 40% of world consumption last year.

TRADING STRATEGY :

BUY GOLD ABOVE 1242 TARGET 1247 1253 SL 1236
SELL GOLD BELOW 1230 TARGET 1225 1219 SL 1236