SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Gold futures struggled near the lowest level in more than three months in European trade on Tuesday, as investors returning from the long Memorial Day weekend awaited data that could back some Federal Reserve officials’ relatively optimistic views on the U.S. economy.The Commerce Department will release its core personal consumption expenditure (PCE) index for April, along with personal income and spending for the same month at 12:30GMT or 8:30AM ET.

• Brent crude prices fell on Tuesday on rising output from the Middle East and ahead of an OPEC meeting later this week, while U.S. crude edged higher as the summer driving season began.Brent crude oil futures were down 40 cents at $49.36 a barrel by 0839 GMT, while U.S. West Texas Intermediate (WTI) crude oil futures traded 10 cents higher at $49.43 a barrel.

• Natural Gas futures jumped during noon trade in the domestic market on Tuesday as investors and speculators booked fresh positions in the energy commodity as forecasts for mild summer weather in the near-term bolstered hopes of a pickup in cooling demand.Updated weather forecasting models called for mild summer temperatures over the next two weeks which may boost demand for gas-fired air conditioning.About 50 per cent of US households use natural gas for cooling purposes.

TRADING STRATEGY :
BUY GOLD ABOVE 1214.3 TARGET 1219.3 1225.3 SL 1209.3
SELL GOLD BELOW 1209.5 TARGET 1204.5 1198.5 SL 1214.5

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