SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• U.S. oil futures held steady close to multi-month highs on Friday, as a decline in U.S. oil stocks countered news that the Organization of the Petroleum Exporting Countries failed to place a ceiling on oil production at their meeting on Thursday in Vienna.U.S. crude futures for July delivery were steady at $49.18 a barrel, near recent seven-month highs of 50.21.

• Gold drifted lower on Friday in Asia as investors remained cautious ahead of this month’s Federal Reserve review of interest rates. On the Comex division of the New York Mercantile Exchange, gold for August delivery fell 0.19% to $1,210.25 a troy ounce.Silver futures for July delivery eased 0.31% to $15.975 a troy ounce.

• Silver futures advanced during evening trade in the domestic market on Friday as investors and speculators eyed the  key US May jobs data which may dictate whether the US Fed raises interest rates as early as this month. The world’s biggest economy is tipped to have added a robust 160K jobs in May with the unemployment rate slipping to 4.9 percent analysts’ estimates showed.

TRADING STRATEGY :
SELL GOLD BELOW 1243 TARGET 1240 1235 SL 1246
BUY GOLD ABOVE 1247 TARGET 1250 1255 SL 1243

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