SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Gold futures tumbled below the $1,200-level in Europe trade on Tuesday, as safe-haven buying in the precious metal dried up amid a recovery in global equity markets.Gold for April delivery on the Comex division of the New York Mercantile Exchange fell to an intraday low of $1,191.50 a troy ounce, before paring some losses to trade at $1,199.80 by 08:45GMT, or 3:45AM ET, down $39.60, or 3.2%.

• Silver futures retreated during noon trade in the domestic market on Tuesday as investors and speculators shunned safe haven assets in favour of high-yielding riskier assets such as stocks as a rebound in oil prices and hopes of a global central bank stimulus boost bolstered risk taking appetite.At the MCX Silver futures for March 2016 contract is trading at Rs 36900 per kg down by 0.51 per cent after opening at Rs 36900 against the previous closing price of 37088. It touched the intra-day low of Rs 36777.

• Copper futures soared by 1 per cent during late morning trade in the domestic market on Tuesday as a pickup in new lending in China the world’s biggest metals consumer eased worries over the country’s economic slowdown lifting the demand outlook for Copper.New loans issued by China’s banks and financial institutions jumped to 2.51 trillion Yuan in January 2016 comfortably topping estimates of 1.9 trillion Yuan and above the 597.8 billion Yuan in the previous month.

TRADING STRATEGY :
BUY GOLD ABOVE 1215 TARGET 1220 126 SL 1221
SELL GOLD BELOW 1208 TAGRET 1203 1197 SL 1214

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