SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Natural Gas jumped during evening trade in the domestic market on Monday as investors and speculators booked fresh positions in the energy commodity after a less than expected rise in US gas supplies boosted sentiment. The EIA said that US gas stockpiles climbed by 82 billion cubic feet in the week ended May 27 2016 compared to a rise of 85 billion cubic feet estimated by analysts.

• Copper futures jumped by over 1 per cent during noon trade in the domestic market on Monday tracking a firm trend overseas as a softer dollar following Friday’s dismal US jobs data bolstered the appeal of the industrial metal as an alternative asset.Softer greenback makes copper cheaper for those holding other currencies thus lifting demand.

• Silver advanced during noon trade in the domestic market on Monday as investors and speculators booked fresh positions in the precious metal as dismal US May jobs data pushed back bets of an imminent US Federal Reserve interest rate hike bolstering the appeal of the bullion as a store of value.

TRADING STRATEGY :
BUY GOLD ABOVE 1248.8 TARGET 1253.8 1259.8 SL 1243.8
SELL GOLD BELOW 1242.5 TARGET 1237.5 1231.5 SL 1247.5

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