Gold rallies to best settlement in more than a week

Futures prices for gold rallied for a second straight session on Thursday to mark their highest settlement in more than a week.

Gold for April delivery GCJ5, -0.10%  rose $8.60,or 0.7%, to settle at $1,210.10 an ounce on Comex. That was the highest settlement for a most-active contract since Feb. 18.

Current Market Update

Here are the latest trading levels for Asia's major stock markets: 

Tokyo (Nikkei Average NIK, -0.08% ) up 0.2% 

 Hong Kong (Hang Seng Index HSI, +0.56% ) up 0.5%

 Shanghai (Shanghai Composite Index SHCOMP, +0.58% ) up 0.6% at break 

 Sydney (S&P/ASX 200 XJO, +0.34% ) up 0.2%

 Seoul (Kospi SEU, -0.13% ) down 0.1% 

Mumbai (Sensex 1, +0.40% ) up 0.5% 

 Taipei (Taiex Y9999, -0.80% ) closed for holiday

Asian Market Update

Asian markets were largely flat in morning trade Friday after the dollar firmed on US inflation data, while disappointing Japanese figures challenged Tokyo's war on falling prices.

Japanese inflation slowed for a sixth straight month in January - dampened by weak consumer spending and falling energy prices - its lowest level since Tokyo launched an offensive on falling prices and tepid growth nearly two years ago.

Tokyo ticked up 0.07 per cent, Hong Kong added 0.54 per cent and Shanghai edged down 0.08 percent. Seoul slipped 0.12 per cent while Sydney was up 0.37 per cent and Wellington added 0.08 per cent. Markets in Taiwan were closed for a public holiday.

KLSE IForex Recommendations

TRADING TIPS :

GBP/USD up 0.28% to 1.5496.during European morning trade, the pair’s highest since January 2; the pair subsequently consolidated at 1.5509, gaining 0.36%.In a report, the British Bankers’ Association said that mortgage approvals rose by 36,400 in January, beating expectations for an increase of 36,200. December’s figure was revised to a 35,800 gain from a previously estimated rise of 35,700.Meanwhile, the greenback remained under pressure after Fed Chair Yellen said it was “unlikely” that economic conditions would warrant an interest rate increase for “at least the next couple of FOMC meetings”.





INTRADAY OUTLOOK
Support: 1.5450
Resistance: 1.5537

RECOMMENDATION:
1. Buy GBP/USD Above 1.5539-TG: 1.5559/1.5589 SL 1.5509
2. Sell GBP/USD Below 1.5448-TG: 1.5428/1.5398 SL 1.5478

INTRADAY OUTLOOK
Support: 1.1316
Resistance: 1.1393

RECOMMENDATION:
1. Buy EUR/USD Above 1.1395-TG: 1.1415/1.1445 SL 1.1365
2. Sell EUR/USD Below 1.1314-TG: 1.1294/1.1264 SL 1.1284

KLSE Stock Recommendations

MARKET UPDATES :

The FBM KLCI index lost 2.82 points or 0.16% on Wednesday. The Finance Index fell 0.19% to 15850.15 points, the Properties Index dropped 0.13% to 1331.01 points and the Plantation Index down 0.89% to 8046.63 points. The market traded within a range of 9.70 points between an intra-day high of 1818.35 and a low of 1808.65 during the session.

STOCK RECOMMENDATION :

BUY IQ GROUP AT 2.345 -2.350 TARGET 2.400 2.460 SL 2.290