SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• The price of Copper in the commodity market rose during noon trade as the metal is expected to be in shortage at the year-end as cooling investments mean no major mines are built this year. Copper is also considered to be a precious metal these days. Unlike the last few surplus years Copper is predicted to be below the inventory level which was supposed to be in accordance with the previous years.

• Crude oil prices rose by 2.62 per cent on Friday on growing supply as investors look ahead to US rig count data from Baker Hughes and as prices were lifted by firm economic indicators from the United States and Germany which could support fuel demand.

• Gold prices dropped on Friday on account of profit booking by traders as prices had earlier surged on expectations that any rate hikes by the Fed will be gradual based on comments from Federal Reserve Board Chair Janet Yellen. Prices had surged ahead of a public appearance by Federal Reserve chair Janet Yellen after the close of trading as investors digested dovish indications from the Fed’s March minutes that the US central bank will remain cautious with the timing of its next interest rate hike.

TRADING STRATEGY :
BUY GOLD ABOVE 1241 TGT 1250 1259 SL BELOW 1233
SELL GOLD BELOW 1230 TGT 1222 1216 SL ABOVE 1240

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