SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Oil prices held broadly steady on Thursday, set for their third week of gains, ahead of an OPEC meeting that analysts said was not expected to result in restrictions on crude output.The Organization of the Petroleum Exporting Countries is set for another showdown between rivals Saudi Arabia and Iran when it meets on Thursday in Vienna, with Riyadh trying to revive coordinated action or a formal oil output target, but Tehran refusing to cooperate.

• Gold futures inched higher in European trade on Thursday, reversing modest overnight losses as market players looked ahead to key U.S. employment data for more clues on the Federal Reserve’s next move.The U.S. was to release the ADP jobs report for May at 12:15GMT, or 8:15AM ET, followed byweekly jobless claims data at 12:30GMT, or 8:30AM ET. Market players are also focusing on Friday’s U.S. nonfarm payrolls report.

• Copper futures fell during noon trade in the domestic market on Thursday as investors and speculators exited positions in the industrial metal as soft China manufacturing and services data signaled a worsening slowdown in the world’s biggest metals consumer darkening the demand outlook for copper.

TRADING STRATEGY :
BUY GOLD ABOVE 1213.75 TARGET 1215 1216.25 SL 1211.90
SELL GOLD BELOW 1211.50 TARGET 1210.50 1209 SL 1213.50

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