SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Copper prices rose by 3.97 per cent on Wednesday after China’s exports in March returned to growth for the first time in nine months adding to further signs of stabilization in the world’s second largest economy that cheered regional investors which raised the demand outlook for the metal.

• Gold moved further back from the previous day’s three week high on Wednesday as the dollar rebounded and European shares surged as upbeat Chinese trade data boosted risk appetite. U.S. gold futures for June delivery were down 1.09% to $1,246.80 an ounce by 0946 GMT.

• Oil prices fell on Wednesday after Saudi Arabia’s oil minister appeared to rule out an oil production freeze ahead of Sunday’s meeting of major producers in Doha. Crude oil for May delivery on the New York Mercantile Exchange was down 62 cents, or 1.47%, to trade at $41.58 a barrel by 0.7.42 GMT.

TRADING STRATEGY :
BUY GOLD ABOVE 1247 TGT 1252 1258 SL BELOW 1241
SELL GOLD BELOW 1242 TGT 1237 1231 SL ABOVE 1248

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