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. March exports rose a blistering 11.5 percent from a year earlier the first increase since June and the largest percentage rise since February 2015.

• Gold prices fell by 0.62 per cent on Wednesday with trade data out of China showing a mixed picture after exports unexpectedly soared. In China March trade data showed a trade balance surplus of $29.86 billion narrower than the $30.85 billion seen. Exports however jumped 11.5 per cent handily beating the 2.5 per cent year-on-year gain seen while imports fell 13.8 per cent more than the 10.2 per cent decline expected.

• Crude oil prices fell by 1.11 per cent on Wednesday after US API weekly crude stocks rose more-than-expected last week indicating that the demand for the commodity in US world’s largest consumer of crude oil is weak. In a report American Petroleum Institute said that US API Weekly Crude Stock rose to 6.200M from -4.300M in the preceding week. Analysts had expected US API Weekly Crude Stock to rise 1.000M last week.

TRADING STRATEGY :
BUY GOLD ABOVE 1245 TGT 1250 1256 SL BELOW 1239
SELL GOLD BELOW 1235 TGT 1230 1224 SL ABOVE 1241

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