SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Gold prices slid lower on Friday, as investors awaited the highly-anticipated U.S. employment report due later in the day, but the precious metal remained close to Wednesday’s two-year peak as concerns over the global impact of the Brexit vote continued to dampen sentiment.On the Comex division of the New York Mercantile Exchange, gold futures for August delivery declined 0.36% to $1,357.35.

• Oil prices rebounded on Friday, bouncing off two-month lows hit in the previous session when prices fell 5 percent on news that the U.S. weekly crude draw missed some forecasts.Traders said that the outlook looked volatile as a refined product glut and slowing economic growth weighed on markets while the risk of supply disruptions could tighten supplies.

• Silver futures were trading lower during noon trade in the domestic market on Friday as traders resorted to a cautious approach ahead of the much anticipated US payrolls data for the month of June set for release today which may dictate the timing of the US Federal Reserve’s next interest rate hike.

TRADING STRATEGY :
BUY GOLD ABOVE 1370 TARGET 1375 1381 SL BELOW 1365
SELL GOLD BELOW 1360 TARGET 1355 1349 SL ABOVE 1365

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