SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Copper prices fell by 1.81 per cent on Monday as the release of weak Chinese manufacturing activity data underlined concerns over the health of the world’s second largest economy. Copper traders view Chinese factory activity as an indicator of the nation’s copper demand as the red metal is widely used by the sector. The official China manufacturing purchasing managers’ index fell to a three-year low of 49.4 in January from 49.7 a month earlier falling short of expectations for 49.6.

• Natural Gas futures plummeted by over 3 per cent during noon trade in the domestic market on Monday as investors and speculators resorted to profit booking in the energy commodity after a spectacular rally on Friday and Thursday when upbeat supplies data which showed a hefty storage withdrawal coupled with forecasts for colder weather in the US in the first two weeks of February which bolstered the demand outlook for the heating fuel buoyed sentiment.

• Gold futures rose to a fresh three-month high in Europe trade on Tuesday, amid growing skepticism over the Federal Reserve’s ability to raise interest rates as much as it would like this year.Gold for April delivery on the Comex division of the New York Mercantile Exchange rose to an intraday peak of $1,131.00 a troy ounce, the most since November 3, before turning lower to trade at $1,125.50 by 07:50GMT, or 2:50AM ET, down $2.50, or 0.22%.

TRADING STRATEGY :
BUY GOLD ABOVE 1127 TARGET 1132 1138 SL 1121
SELL GOLD BELOW 1120 TAREGT 1115 1109 SL 1126

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