SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Oil futures fell on Wednesday, after a surprise rise in U.S. inventories wiped out the optimism that had built up the day before over the potential for the world’s largest exporters to cut output enough to stem a 19-month-long price slide. Another contraction in industrial profits in top commodities consumer China, along with caution before the outcome of the U.S. Federal Reserve’s first policy meeting of the year, knocked around $1 off the price of oil.

• Gold futures fell from the prior session’s three-month peak in Europe trade on Wednesday, as investors were hesitant to push prices higher ahead of the Federal Reserve’s policy statement due later in the day. The Fed is widely expected to keep interest rates on hold at the conclusion of its two-day policy meeting later Wednesday after raising interest rates for the first time in almost a decade in December.

• Copper futures surged by more than 2.5 per cent during late noon trade in the domestic market on Wednesday as investors and speculators booked fresh positions in the industrial metal after data showed that China imported a record amount of copper in 2015 signaling strong underlying demand for the metal in the world’s biggest copper consumer. Chinese inbound copper shipments jumped 34 per cent to 423181 tons in December 2015 from the same month a year ago.

TRADING STRATEGY :
BUY GOLD ABOVE 1120 TARGET 1125 1131 SL 1114
SELL GOLD BELOW 1115 TARGET 1110 11104 SL 1121

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