SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Natural gas futures fell to session lows on Thursday after data showed that U.S. natural gas supplies rose more than expected last week.On the New York Mercantile Exchange, natural gas for delivery in October was last down 1.24% to $11.990 per million British thermal units. Prices were at around $2.556 prior to the release of the supply data.

• Gold prices fell in Asia on Friday after Fed Chair Janet Yellen said that an interest rate hike this year is still very much on the cards.Yellen said she anticipates that it will be appropriate to raise short-term interest rates by the end of the year. Overnight, gold futures surged more than $20 an ounce as weak economic data weighed on the dollar, ahead of Janet Yellen’s first public appearance on Thursday night since the Federal Reserve held short-term interest rates at its current near-zero level last week.

• Oil prices were steady at about $48 per barrel on Friday, pressured by a rise in the dollar, weak consumer data from Japan and after analysts from Standard & Poor’s ratings cut their oil price assumptions. Globally traded Brent futures were at $48.19 per barrel at 1124 GMT, up just 2 cents from their last close and erasing earlier Friday gains. U.S. West Texas Intermediate (WTI) futures were up 23 cents at $45.14 a barrel.

TRADING STRATEGY :
BUY GOLD ABOVE 1148 TARGET 1153 1159 SL 1142
SELL GOLD BELOW 1140 TARGET 1135 1129 SL 1146

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