SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Gold futures struggled near three-week lows in European trade on Monday, adding to last week’s sharp losses, as markets continued to factor in the possibility of another interest rate hike by the Federal Reserve as early as June. Gold for June delivery on the Comex division of the New York Mercantile Exchange shed $1.90, or 0.15%, to trade at $1,251.00 a troy ounce by 06:45GMT, or 02:45AM ET.

• Brent oil prices fell for a fourth consecutive session on Monday after Iran insisted it would not freeze crude output, returning investor attention to a global glut.Adding to signs the oil market will remain oversupplied, data showed last week the number of rigs operated by U.S. drillers held steady for the first time this year, following a near two-year slump in the rig count.

• Natural gas futures jumped more than 2 per cent during noon trade in the domestic market on Monday as investors and speculators booked fresh positions in the energy commodity tracking a bullish trend in the overseas market as a smaller than expected gain in US stockpiles eased worries over a supply glut.

TRADING STRATEGY :
BUY GOLD ABOVE 1256.3 TARGET 1261.3 1267.3 SL 1251.3
SELL GOLD BELOW 1247.5 TARGET 1242.5 1236.5 SL 1252.5

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