SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Oil prices rose toward six-month highs on Thursday, supported by data from the International Energy Agency (IEA) showing tightening supply in addition to a surprise drop in U.S. crude inventories.Brent crude futures (LCOc1) were trading at $47.92 per barrel at 0944 GMT, up 32 cents from their last settlement and near a six-month high of $48.50 hit at the end of April.

• Global gold demand at the start of 2016 rose at its fastest pace ever on inflows from exchange traded funds (ETFs), according to an industry report released on Thursday.Gold demand increased by 21% year-on-year to 1,290 tons in the first quarter, according to the World Gold Council report..That was the fastest pace ever for the first three months of the year and the second largest quarter on record.

• Amid pick-up in demand from alloy-makers at domestic spot markets and a firming trend in base metals overseas, nickel prices edged higher 0.56% to Rs 593.70 per kg in futures trade today as speculators raised their bets. At the Multi Commodity Exchange, nickel for delivery in current month was trading higher by Rs 3.30, or 0.56%, to Rs 593.70 per kg in a business turnover of 660 lots.

TRADING STRATEGY :
BUY GOLD ABOVE 1273.2 TARGET 1278.2 1284.2 SL 1268.2
SELL GOLD BELOW 1265.8 TARGET 1260.8 1254.8 SL 1270.8

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