SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Oil prices fell on Monday, paring some of last week’s 2 percent rally, despite evidence of slowing U.S. production and a fourth  weekly increase in U.S. investor holdings of crude futures .High oversupply and concern about demand growth in key areas of consumption such as emerging markets have stripped 50 percent off the value of a barrel of oil over the last year and kept the price below $50 a barrel for most of the past nine weeks.

• Gold prices dropped in European morning hours on Monday, as expectations for a U.S. rate hike in the near future continued to weigh on the precious metal and as investors eyed speeches by several Federal Reserve officials scheduled later in the day. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery lost 0.72% to $1,137.30.

• Crude oil prices dipped in Asia on Monday as investors took advantage of U.S. gains last week .On the New York Mercantile Exchange, crude oil for delivery in November fell 0.98% to $45.25 a barrel. Crude oil prices have been under heavy selling pressure in recent months, as ongoing worries over the health of the global economy fueled concerns that a global supply glut may stick around for longer than anticipated.

TRADING STRATEGY :
BUY GOLD ABOVE 1134 TARGET 1139 1145 SL 1128
SELL GOLD BELOW 1128 TARGET 1123 1117 SL 1134

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