KLSE Comex Recommendations

INTERNATIONAL COMMODITY NEWS :

Crude oil prices fell on Tuesday in Asia after weak Chinese price data even after speculation that there is a stronger case for further monetary easing by Beijing.On the New York Mercantile Exchange, crude oil for delivery in March fell 0.98% to $52.34 a barrel. Later Tuesday, the American Petroleum Institute will release data on U.S. crude and product inventories last week as a sign post to more closely watched figures from the U.S. Department of Energy due Wednesday. China’s January CPI rose 0.8%, below the 1.0% expected year-on-year, while PPI data eased 4.3%, compared to a fall of 3.8% year-on-year expected, the steepest drop since October 2009.



TRADING STRATEGY :

BUY GOLD ABOVE 1246 TAREGT 1251 1257 SL 1240
SELL GOLD BELOW 1237 TARGET 1232 1226 SL 1243

Euro shrugs off Greek worries to end higher

The euro inched higher against the dollar Monday, reversing earlier losses.

The euro EURUSD, +0.07%  traded at $1.1327 Monday, compared with $1.1315 Friday afternoon. The shared currency remained weaker against the yen EURJPY, -0.06%  , and flat against the pound EURGBP, -0.09%

 Investors looking to buy yen at a discount after its massive losses against the dollar from Friday’s session helped USDJPY, -0.14%  spark a profit-taking rally Monday.

Silver and Platinum Market Update

March silver SIH5, -0.26%  added 38 cents, or 2.3%, to end at $17.07 an ounce.

Platinum for April delivery PLJ5, +0.14%  fell $1.20, or 0.1%, to settle at $1,220.40 an ounce, while palladium for March delivery PAH5, +0.28% slipped by $1.65, or 0.2%, to $779.65 an ounce. High-grade copper for March delivery HGH5, -0.21%  fell a half cent to end at $2.581 a pound.

Oil rig counts just hit a 5-year low

The total number of active U.S. oil and natural-gas drilling rigs looks like it has fallen off a cliff.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in March CLH5, -1.25%  settled at $51.69 a barrel, up $1.21, or 2.4%, for the session Friday.

Gold futures score first gain in 3 sessions

Gold prices scored their first gain in three sessions on Monday as financial turmoil in Greece, weaker-than-expected trade data from China and declines in U.S. equities buoyed the metal’s investment appeal.


Gold for April delivery GCJ5, +0.12%  rose $6.90, or 0.6%, to settle at $1,241.50 an ounce on Comex. Prices had hit the lowest settlement since Jan. 14 in Friday’s session, losing 3.5% last week.