KLSE Comex Recommendations

INTERNATIONAL COMMODITY NEWS :

Gold prices held mostly flat in Asia on Wednesday with investors looking ahead to events in Europe on the euro and Greece. On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded up 0.02% to $1,293.40 a troy ounce.Overnight, gold extended gains to trade near the $1,300-level on Tuesday, as investors looked ahead to the European Central Bank’s policy meeting later this week to see if it would launch a government bond-buying program.



TRADING STRATEGY :

BUY GOLD ABOVE 1300 TARGET 1305 1311 SL 1294
SELL GOLD BELOW 1285 TARGET 1280 1274 SL 1291

Natural Gas Market Update

Natural gas prices for February NGG15, +4.45%  dived 30 cents, or 9.6%, to settle at $2.83 per million British thermal units.

Natural gas is down because of a Midwest warm-up. Temperatures in Chicago hit 49 degrees on Sunday, 9 degrees above the average, and the rest of this week is also seen as mild.

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Platinum Market Update

Platinum for April delivery PLJ5, +0.00%  rose $17.20, or 1.4%, to settle at $1,286.60 an ounce, while palladium for March delivery PAH5, +0.40%  advanced $24.45, or 3.2%, to settle at $778.75 and ounce.

Silver Market Update

March silver futures SIH5, +1.97%  advanced 21 cents, or 1.2%, to settle at $17.96 an ounce.

High-grade copper for March delivery HGH5, -0.42%  declined just over 2 cents, or 0.9%, to settle at $2.59 a pound.

Gold settles at highest level in 5 months

Gold gained for a seventh straight day to settle at its highest price in five months Tuesday, after the Swiss National Bank last week triggered turmoil in currency markets and investors looked ahead to this week’s meeting of the European Central Bank.

Gold for February delivery GCG5, +0.62%  settled up $17.30, or 1.4%, at $1,294.20 an ounce, on the New York Mercantile Exchange. That’s the highest settlement for gold since Aug. 19. The seven-day rally has resulted in a 7.1% rise in gold prices.