SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Natural Gas futures extended a slide during noon trade in the domestic market on Wednesday as investors and speculators exited positions in the energy commodity after weather forecasts continued to point to warmer than average weather across parts of the US threatening to curb the demand for the heating fuel in the world’s biggest fuel consuming nation.

• Silver futures were trading with slim losses during noon trade in the domestic market on Wednesday as investors and speculators shied away from booking fresh positions in the precious metal after a top US Federal Reserve official signaled that it was unclear whether the recent downturn in global financial markets may have a significant impact on the US economy raising speculation that the Fed’s course of tightening interest gradually may not be much affected dimming the lure for the precious metal as a store of value.

• Gold futures pushed higher in Europe trade on Wednesday, as market players awaited comments from a barrage of Federal Reserve officials later in the session for further clues on the path of future rate hikes.Gold for April delivery on the Comex division of the New York Mercantile Exchange tacked on $4.60, or 0.38%, to trade at $1,227.20 a troy ounce by 09:15GMT, or 4:15AM ET.

TRADING STRATEGY :
BUY GOLD ABOVE 1230 TARGET 1235 1241 SL 1224
SELL GOLD BELOW 1122 TAGRET 1117 1111 SL 1128

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