SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Crude oil prices rose by 0.30 per cent on Monday after a drop in US inventories and drilling while outages and hopes that exporters could freeze output also supported prices. Oil futures were further supported as analysts forecast that global oil demand could accelerate helping tighten a market that has suffered from oversupply since mid-2014.

• Gold prices gained 0.27 per cent on Monday as consumer prices eased in China last month and investors eyed easier monetary policy. Consumer prices for March in China fell 0.4 per cent more than the expected 0.3 per cent decline month-on-month and up 2.3 per cent year-on-year less than the 2.5 per cent gain seen according to official data released on Monday.

• Oil prices slipped on Monday over worries that the result of next Sunday’s meeting of producers in Qatar aimed at freezing current output levels would fail to improve the current supply-demand balance. Brent crude futures, the global benchmark, were down 27 cents at $41.67 a barrel at 0810 GMT, retreating from a three-week high reached on Friday.

TRADING STRATEGY :
BUY GOLD ABOVE 1253 TGT 1258 1264 SL BELOW 1247
SELL GOLD BELOW 1243 TGT 1238 1232SL ABOVE 1249

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