SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Gold futures held near the prior session’s three-month peak in Europe trade on Thursday, after the Federal Reserve failed to offer clues on the timing of future rate hikes in its policy statement.As expected, the Fed kept interest rates unchanged at the conclusion of its policy meeting on Wednesday and said it was “closely monitoring” global economic and financial developments.

• Oil prices struggled for direction in Europe trade on Thursday, amid doubts over the likelihood of a deal between Russia and OPEC producers to cut output happening anytime soon.Oil rallied on Wednesday as top OPEC and Russian oil industry officials stepped up vague talk of possible joint action to cut production and alleviate a global supply glut.

• Natural Gas futures surged by more than 1.5 per cent in the domestic market on Wednesday as investors and speculators booked fresh positions in the energy commodity as forecasts for colder temperatures across parts of the US in the next two weeks bolstered the demand outlook for the heating fuel in the world’s biggest economy. Updated weather forecasting models called for cooler weather in the US through the middle of February boosting demand for gas-fired heating at offices and homes.

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

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