SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Crude oil prices gained smartly in Asia on Monday as investors saw the dollar steady to weaker for now as the Federal Reserve appears on hold for rates.On the New York Mercantile Exchange, crude oil for delivery in November gained 1.03% to $49.94 a barrel.Last week, crude oil prices were little changed at the end of a volatile session on Friday having failed to close above the $50 level, but expectations for continued declines in production underpinned prices.

• Gold prices jumped in Asia on Monday as investors show greater confidence that the Federal Reserve will hold steady in October.Gold for December delivery was up 1.18% to $1,157.80 a troy ounce, while silver futures for December delivery gained 0.60% to $15.860 a troy ounce.Last week, Gold rallied to the highest level in seven weeks on Friday on the back of heightened expectations that the Federal Reserve will hold off on hiking interest rates until 2016.

• Copper futures jumped to a three-week high on Monday, amid concerns over supply cuts by mining giant Glencore (L:GLEN).Copper for December delivery on the Comex division of the New York Mercantile Exchange hit an intraday peak of $2.435 a pound, the most since September 18, before trading at $2.434 during morning hours in London, up 2.0 cents, or 0.82%.

TRADING STRATEGY :
BUY GOLD ABOVE 1167 TARGET 1172 1178 SL 1161
SELL GOLD BELOW 1160 TARGET 1155 1149 SL 1166

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