SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• West Texas Intermediate oil futures climbed back above the $30-level in Europe trade on Wednesday, amid speculation weekly supply data due later in the session will show U.S. crude inventories rose at a slower pace than expected last week. The U.S. Energy Information Administration will release its weekly report on oil supplies at 15:30GMT, or 10:30AM ET, amid expectations for a gain of 4.8 million barrels.

• Gold futures held steady near the prior session’s three-month high in Europe trade on Wednesday, as investors looked ahead to key U.S. data later in the day to gauge if the world’s largest economy is strong enough to withstand further rate hikes this year.The U.S. was to release the ADP jobs report for January at 13:15GMT, or 8:15AM ET, followed by the U.S. Institute of Supply Management’s report on service sector growth for January at 15:00GMT, or 10:00AM ET. Market players are also focusing on Friday’s U.S. nonfarm payrolls report.

• Zinc futures rose by 1.46 per cent to Rs 115.05 per kg today as speculators increased positions in the midst of a strong trend globally. Besides high demand in domestic spot markets fueled the uptrend. Zinc futures for January 2016 contract at MCX were trading at Rs 115.05 per kg up by 1.46 per cent after opening at Rs. 114.35 against the previous closing price of Rs. 113.40.

TRADING STRATEGY :
BUY GOLD ABOVE 1132 TARGET 1137 1143 SL 1127
SELL GOLD BELOW 1124 TAREGT 1119 1113 SL 1130

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