SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Crude oil prices fell by 1.87 per cent on Thursday as the minutes of the Federal Reserve’s April meeting weighed on the commodity with prospects for a rate hike as early as June expected to boost the greenback further. Federal Reserve sent strong indications in its April minutes that it could raise interest rates next month triggering a rapid increase in the slumping dollar.

• Gold prices fell as minutes from the Federal Reserve suggested a near-term rate hike is possible. Minutes released by the Federal Reserve from its April policy meeting suggested an interest-rate increase in June was possible if incoming data showed an improving economy.

• The report released by World Metal Statistics (WBMS) that this year, the global primary aluminum market was in a slight excess supply of 48,000 tons during the first 3 months of this year. The primary aluminum demand during the first 3 months was 13.28 million tons, reducing by 664,000 tons compared with the same period last year.

TRADING STRATEGY :
BUY GOLD ABOVE 1262 TARGET 1267 1273 SL 1257
SELL GOLD BELOW 1252 TARGET 1247 1241 SL 1257

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