SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Gold futures edged lower in Europe trade on Wednesday, but held above the $1,200-level as market players looked ahead to minutes of the Federal Reserve’s January policy meeting for fresh indications on whether the U.S. central bank will raise interest rates at all this year.Gold for April delivery on the Comex division of the New York Mercantile Exchange shed $2.90, or 0.24%, to trade at $1,205.30 by 08:55GMT, or 3:55AM ET.

• Oil prices extended losses from the prior session in Europe trade on Wednesday, as OPEC members travel to Tehran in an attempt to convince Iran to join an oil production freeze deal.Venezuelan Oil Minister Eulogio Del Pino and Iraqi Oil Minister Adel Abdel Mahdi were to travel to Tehran for talks with their Iranian counterpart Bijan Zanganeh scheduled for 10:30GMT, or 5:30AM ET, in a bid to reach a deal to restrain output and prop up sagging prices.

• Natural Gas futures were trading higher during noon trade in the domestic market on Wednesday as traders took advantage of cheaper valuations amidst the recent drop in prices of the energy commodity.The fuel has been hit by worries that warmer weather across the US in the coming weeks may curb the demand for the heating fuel in the world’s biggest gas consuming nation.

TRADING STRATEGY :
BUY GOLD ABOVE 1205 TARGET 1210 1216 SL 1199
SELL GOLD BELOW 1098 TAGRET 1093 1087 SL 1104

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