SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Copper futures traded 0.66% lower at Rs 346 today on speculators reducing their positions amid weak global cues. At the Multi Commodity Exchange, copper for delivery in November fell by Rs 2.30, or 0.66% at Rs 346 per kg, in a business turnover of 1,369 lots.Similarly, the metal for delivery in far-month February next year was down by Rs 2.20, or 0.62%, at Rs 352 per kg in 51 lots.

• Gold fell nearly 1 percent on Tuesday, retreating from a three-month high on profit-taking after a two-day rally triggered by expectations the Federal Reserve will not hike U.S. interest rates this year. “It has been an impressive rally for the precious complex since the nonfarm payrolls 10 days ago, however it looks like the momentum is now starting to wane,” said James Gardiner, a bullion trader with MKS Group.

• Crude oil futures climbed on Tuesday, buoyed by light bargain-hunting after U.S. and Brent crude in the previous session posted their biggest daily percentage declines since the start of September.But a supply surplus and expectations of higher crude inventory stockplies in the United States limited gains.

TRADING STRATEGY :
BUY GOLD ABOVE 1160 TARGET 1165 1171 SL 1155
SELL GOLD BELOW 1150 TARGET 1145 1139 SL 1156

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