SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Oil prices pushed lower in European trade on Tuesday, falling for the first time in three days as market players looked ahead to fresh weekly information on U.S. stockpiles of crude and refined products.Crude oil for August delivery on the New York Mercantile Exchange shed 23 cents, or 0.46%, to trade at $49.73 a barrel by 07:53GMT, or 3:53AM ET, after soaring $1.40, or 2.88%, a day earlier.

• Gold futures extended losses from the prior session in European trade on Tuesday, as investors awaited testimony by Federal Reserve Chair Janet Yellen while looking ahead to Thursday’s highly-anticipated referendum on whether Britain will choose to remain in the European Union.Gold for August delivery on the Comex division of the New York Mercantile Exchange dipped $5.15, or 0.4%, to trade at $1,286.85 by 06:44GMT, or 2:44AM ET. A day earlier, gold shed $2.70, or 0.21%.

• Lead futures fell during evening trade in the domestic market on Tuesday as investors and speculators exited positions in the industrial metal amid sluggish physical demand for Lead by battery-makers in the domestic spot market.Traders also stuck to a cautious approach ahead of the crucial EU referendum on Thursday in which Britain will vote whether to break away from the European Union a move which could hurt the global economy and dampen the appetite for risky assets including commodities and push up the dollar with which metals have an inverse relationship.

TRADING STRATEGY :
BUY GOLD ABOVE 1272 TARGET 1277 1283 SL 1267
SELL GOLD BELOW 1269 TARGET 1264 1258 SL 1274

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