SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Gold prices slid lower on Friday, as a stronger U.S. dollar weighed but the precious metal still remained within close distance of a three-week highs amid lower expectations for a summer U.S. rate hike. On the Comex division of the New York Mercantile Exchange, gold futures for August delivery declined 0.34% to $1,268.25.

• Oil prices fell on Friday, as a stronger dollar pulled crude off the 2016 highs hit this week, although strong refinery    demand and global supply disruptions lent some support.International Brent crude oil futures were trading at $51.59 per barrel at 0537 GMT, down 36 cents from their last settlement. U.S. West Texas Intermediate (WTI) futures were down 38 cents at $50.18 a barrel.

• Copper futures closed lower in the domestic market on Thursday as dollar strengthened after U.S. data revived expectations of an imminent Fed rate rise while higher inventories reinforced negative sentiment.The dollar was bolstered by an unexpected drop in domestic jobless claims last week calming some worries about U.S. economic growth decelerating in the second quarter.

TRADING STRATEGY :
BUY GOLD AROUND 1240 TARGET 1245 1250 SL 1236
SELL GOLD AROUND 1250-1251 TARGET 1246 1240 SL 1253

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