SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Gold futures were higher in Europe trade on Tuesday, rebounding from the prior session’s losses as the oil price rally that boosted global stock markets fizzled out.gold for April delivery on the Comex division of the New York Mercantile Exchange tacked on $7.90, or 0.65%, to trade at $1,218.00 a troy ounce by 09:10GMT, or 4:10AM ET.

• Copper futures fell during noon trade in the domestic market on Tuesday as investors and speculators exited positions in the industrial metal as weak demand from China the world’s biggest metals consumer soured sentiment. Copper stockpiles tracked by the Shanghai Futures Exchange hit a record high 277000 tons more than doubling since the end of August while China weakened the Yuan by the most in six weeks signaling a deepening slowdown in the world’s second biggest economy.

• Crude oil dipped in Asia on Tuesday ahead of industry estimates of U.S. stockpiles later in the day. The American Petroleum Institute will release estimates of crude and refined product stockpiles in the U.S. last week later Tuesday. On Wednesday, more closely-watched figures from the U.S. Department of Energy are due.

TRADING STRATEGY :
BUY GOLD ABOVE 1122 TARGET 1127 1133 SL 1116
SELL GOLD BELOW 1112 TAGRET 1107 1101 SL 1118


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