SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Crude oil prices rose by 0.64 per cent on Thursday after housing starts in Japan rose unexpectedly in the last quarter signaling improving housing market in the region which raised the demand for the fuel.In a report Ministry of Land Infrastructure and Transport said that Japanese Housing Starts rose to a seasonally adjusted 8.4 per cent from 7.8 percent in the preceding quarter.

• Gold prices gained 0.18 per cent on Thursday after the Bank of Japan surprised markets by keeping monetary policy steady. The BoJ held monetary policy steady quashing speculation that it would ramp up its already extensive easing program. At the MCX Gold futures for June 2016 contract is trading at Rs 29435 per 10 gram up by 0.18 per cent after opening at Rs 29350 against the previous closing price of Rs 29383. It touched the intra-day high of Rs 29480.

• Silver futures rose by 1.20 per cent on Wednesday afternoon market at the Multi Commodity Exchange (MCX) due to firm global trend. At the MCX Silver futures for May 2016 contract is trading at Rs. 40671 per Kg up by 1.20 per cent after opening at Rs. 40350. It touched the intra-day high of Rs. 40899.Mexico is the largest producer of silver whereas major consumers are USA India and Canada.

TRADING STRATEGY :
BUY GOLD ABOVE 1258.8 TARGET 1263.8 1269.8 SL BELOW 1253.8
SELL GOLD BELOW 1253.8 TARGET 1248.8 1242.8 SL ABOVE 1258.8

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