SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Gold futures were higher in European trade on Tuesday, adding to modest overnight gains, as investors looked ahead to key U.S. inflation data due later in the session to gauge if the world’s largest economy is strong enough to withstand further rate hikes in 2016.

• Oil prices rose to fresh seven-month highs in European trade on Tuesday,adding to sharp overnight gains amid mounting concerns over global supply disruptions.Oil prices have been well-supported in recent sessions due to a combination of Nigerian,Libyan and Venezuelan supply outages, declining U.S. shale output and reduced production of Canadian crude as a result of fires in Alberta’s oil sands region.

• Silver futures rallied in the domestic market on Tuesday as investors and speculators booked fresh positions in the precious metal ahead of key US consumer price data which may dictate the likely trajectory of US interest rate movement this year. Data released on Monday showed that manufacturing activity in New York shrank in May following three months of expansion amid weakness in new orders and inventories signaling softness in the American manufacturing sector.

TRADING STRATEGY :
BUY GOLD ABOVE 1272 TARGET 1277 1283 SL 1267
SELL GOLD BELOW 1268.8 TARGET 1263.8 1257.8 SL 1273.8

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