SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Gold futures were down sharply in Europe trade on Monday, as the metal’s safe-haven appeal was dented amid a recovery in oil prices and global equity markets.Gold for April delivery on the Comex division of the New York Mercantile Exchange tumbled by as much as $24.90, or 2.02%, to hit an intraday low of $1,205.90, before recovering slightly to $1,209.10 by 09:10GMT, or 4:10AM ET, down $21.70, or 1.76%.

• Oil prices rose on Monday as a fall in U.S. oil drilling rig numbers lifted the prospect of lower crude production and a bounce in stock markets encouraged buying sentiment.U.S. crude futures (CLc1) rose above $30 a barrel, gaining 95 cents to $30.59 a barrel by 0956 GMT, or 3.2 percent. International benchmark Brent (LCOc1) was up 89 cents at $33.90 a barrel.

• Natural Gas futures tumbled by over 3 per cent in the domestic market on Friday as investors and speculators exited positions in the energy commodity amidst a weak trend in the overseas market as forecasts calling for less cooler weather in the US Northeast over the next two weeks threatened to curb the demand outlook for the heating fuel in the world’s biggest gas consuming nation.

TRADING STRATEGY :
BUY GOLD ABOVE 1216 TARGET 1221 1227 SL 1210
SELL GOLD BELOW 1205 TAGRET 1200 1194 SL 1211

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