KLSE Comex Recommendations

INTERNATIONAL COMMODITY NEWS :

Gold prices held steady to lower in early Asia on Tuesday as investors eyed easy monetary policy in China and continued import restriction in India On the Comex division of the New York Mercantile Exchange, gold futures for April delivery fell 0.02% to $1,206.40 a troy ounce. Overnight, gold prices slipped on Monday afternoon, after reaching a two-week high, amid conflicting reports about demand from the world’s two largest purchasers of the precious metal. Gold initially rose in morning trading following the release of a spate of economic data in China. For the month of February, the HSBC China Manufacturing PMI rose to 50.7 — up a point from 49.7 in January. China also cut its benchmark interest rate for the second time in less than four months, as a number of economists expect more easing measures to follow throughout the remainder of the year.



TRADING STRATEGY :
BUY GOLD ABOVE 1212 TARGET 1217 1223 SL 1206
SELL GOLD BELOW 1203 TARGET 1197 1191 SL 1209

Forex Market Update

 

The dollar shrugged off a slate of weak economic data Monday to trade higher against the euro, yen and pound, benefiting from a surprise rate cut from the People’s Bank of China.

The euro EURUSD, +0.12%  fell to $1.1182, flat compared with its Friday-afternoon value of $1.1198. The buck USDJPY, -0.34%  traded at 120.18 yen, its highest level in nearly three weeks. It traded at ¥119.63 Friday.

 The pound GBPUSD, +0.11%  traded at $1.5366, compared with $1.5440 Friday.

The ICE U.S. Dollar Index, a measure of the greenback’s strength against a trade-weighted basket of six rival currencies, DXY, -0.17%  rose 0.2% to 95.47.

Silver Market Update

May silver SIK5, +0.33%  declined by 10.7 cents, or 0.7%, to $16.451 an ounce.

April platinum PLJ5, -0.38%  rose $4.30 to $1,189.90 an ounce. 

June palladium PAM5, -0.73%  tacked on $11.60 to $831.10 an ounce. 

May copper HGK5, -1.17%  added less than a cent to $2.6975 a pound.

Gas Market Update

April natural gas NGJ15, -1.30%  fell 3.6 cents, or 1.3%, to settle at $2.698 per million British thermal units.

Gasoline Market Update

 April gasoline RBJ5, +1.34%  fell 8.1 cents, or 4.1%, to end at $1.897 a gallon.

 April heating oil HOJ5, +0.82%  settled at $1.887 a gallon, down 8.6 cents, or 4.4%. 

Futures prices for both products scored double-digit percentage gains for the month of February.