30/12/2013 (Borneo Post) - The US Dow Jones markets made new high on Friday after it ascended above 16,500 levels. The 10-year Treasury bond yield surged to three per cent for the first time this year and triggered movement of funds from fixed-income assets to equities.

Gold prices began to climb after jobless claims showed decline to 338,000 in the week ended December 21.

WTI Crude topped US$100 per barrel on Friday and remained strong after inventory supply fell further than previous week.

Gold prices were mostly quiet in the early part of last week. After Christmas, we saw some short-covering in market after the jobless claims reduced and market advanced t almost 1220.00 regions before weekend.

This week, we expect the market may attempt small pull-up at 1225.00 regions before resuming the slide.

The overall trend of yellow metal is still bearish and temporary supported at 1190.00 levels. Breaking beneath this support will lead to lower grounds at 1150.00 regions.

WTI Crude prices were creeping up slowly throughout last week amid low volume. The Friday’s report on Crude inventories showed more supplies at 4.7 million barrels and more than double the expectation.

The market hovered above US$100.00 benchmarks as demands increased. This week, we reckon the support will emerge at 98.50 regions while the bulls may attempt higher at 102.00 targets.

However, we also predict selling pressure will be unveiled as the bulls climb up above 102.00 regions.

Crude Palm Oil Futures (FCPO) on Bursa Derivatives closed higher on Friday in weekly chart. Bullish sentiment was due to weak ringgit and supply squeeze in first quarter of coming new year.

The March contract settled at 2632 with approximately 19,100 contracts. This week, we reckon CPO prices might continue to climb higher while moving into first week of January.

The technical support will lie at 2550 and resistance stays at 2700 regions. Range trading is expected for this week as volume could be slow.