SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Crude oil prices fell by 1.87 per cent on Thursday as the minutes of the Federal Reserve’s April meeting weighed on the commodity with prospects for a rate hike as early as June expected to boost the greenback further. Federal Reserve sent strong indications in its April minutes that it could raise interest rates next month triggering a rapid increase in the slumping dollar.

• Gold prices fell as minutes from the Federal Reserve suggested a near-term rate hike is possible. Minutes released by the Federal Reserve from its April policy meeting suggested an interest-rate increase in June was possible if incoming data showed an improving economy.

• The report released by World Metal Statistics (WBMS) that this year, the global primary aluminum market was in a slight excess supply of 48,000 tons during the first 3 months of this year. The primary aluminum demand during the first 3 months was 13.28 million tons, reducing by 664,000 tons compared with the same period last year.

TRADING STRATEGY :
BUY GOLD ABOVE 1262 TARGET 1267 1273 SL 1257
SELL GOLD BELOW 1252 TARGET 1247 1241 SL 1257

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SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Oil prices held near the prior session’s seven-month highs in European trade on Wednesday, amid speculation weekly supply data due later in the session will show U.S. crude inventories fell for the second straight week. The U.S. Energy Information Administration will release its weekly report on oil supplies at 14:30GMT, or 10:30AM ET, amid expectations for a drop of 2.9 million barrels.

• Gold futures were lower in European trade on Tuesday, after posting modest overnight gains, as market players looked ahead to minutes of the Federal Reserve’s April policy meeting, which many feared could be more hawkish than the statement.Gold for June delivery on the Comex division of the New York Mercantile Exchange dipped $2.00, or 0.16%, to trade at 1,274.80 a troy ounce by 06:46GMT, or 02:46AM ET.

• Copper prices fell on Wednesday as the dollar rallied after a stream of encouraging US economic data supported the case for more rate rises this year.A US Federal Reserve policymaker said that he will push for an interest rate hike in June or July and two others still see up to three rate increases this year leaving the door open to a change in monetary policy relatively soon.

TRADING STRATEGY :
BUY GOLD ABOVE 1272 TARGET 1277 1283 SL 1267
SELL GOLD BELOW 1268.8 TARGET 1263.8 1257.8 SL 1273.8

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SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Gold futures were higher in European trade on Tuesday, adding to modest overnight gains, as investors looked ahead to key U.S. inflation data due later in the session to gauge if the world’s largest economy is strong enough to withstand further rate hikes in 2016.

• Oil prices rose to fresh seven-month highs in European trade on Tuesday,adding to sharp overnight gains amid mounting concerns over global supply disruptions.Oil prices have been well-supported in recent sessions due to a combination of Nigerian,Libyan and Venezuelan supply outages, declining U.S. shale output and reduced production of Canadian crude as a result of fires in Alberta’s oil sands region.

• Silver futures rallied in the domestic market on Tuesday as investors and speculators booked fresh positions in the precious metal ahead of key US consumer price data which may dictate the likely trajectory of US interest rate movement this year. Data released on Monday showed that manufacturing activity in New York shrank in May following three months of expansion amid weakness in new orders and inventories signaling softness in the American manufacturing sector.

TRADING STRATEGY :
BUY GOLD ABOVE 1272 TARGET 1277 1283 SL 1267
SELL GOLD BELOW 1268.8 TARGET 1263.8 1257.8 SL 1273.8

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SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Oil prices ended a three-day bull run on Friday, falling as a strong dollar made it more expensive to hold oil positions though losses were cushioned by Nigerian outages that have slashed output to the lowest in 22 years. The dollar (DXY) hit a two-week high against a basket of currencies on Friday, lifted by expectations the U.S. Federal Reserve will raise rates again before any other major central bank.

• Gold prices rose on Friday, but gains were limited by a stronger U.S. dollar as investors awaited the release of a number of U.S. economic reports later in the day.On the Comex division of the New York Mercantile Exchange, gold futures for June delivery were up 0.35% at $1,275.80.The June contract ended Thursday’s session 0.34% lower at $1,271.20 an ounce.Futures were likely to find support at $1,258.70, the low from May 10 and resistance at $1,286.50, the high from May 9.

• Zinc prices rose by 0.72 per cent on Thursday at the Multi Commodity Exchange (MCX) due to rising demand in the domestic spot market coupled with a firm trend in the base metal overseas. Sentiments further strengthen as data were revealed which eased demand concerns in China.

TRADING STRATEGY :
BUY GOLD ABOVE 1276.3 TARGET 1281.3 1287.3 SL 1271.3
SELL GOLD BELOW 1271 TARGET 1266 1260 SL 1276

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SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Oil prices rose toward six-month highs on Thursday, supported by data from the International Energy Agency (IEA) showing tightening supply in addition to a surprise drop in U.S. crude inventories.Brent crude futures (LCOc1) were trading at $47.92 per barrel at 0944 GMT, up 32 cents from their last settlement and near a six-month high of $48.50 hit at the end of April.

• Global gold demand at the start of 2016 rose at its fastest pace ever on inflows from exchange traded funds (ETFs), according to an industry report released on Thursday.Gold demand increased by 21% year-on-year to 1,290 tons in the first quarter, according to the World Gold Council report..That was the fastest pace ever for the first three months of the year and the second largest quarter on record.

• Amid pick-up in demand from alloy-makers at domestic spot markets and a firming trend in base metals overseas, nickel prices edged higher 0.56% to Rs 593.70 per kg in futures trade today as speculators raised their bets. At the Multi Commodity Exchange, nickel for delivery in current month was trading higher by Rs 3.30, or 0.56%, to Rs 593.70 per kg in a business turnover of 660 lots.

TRADING STRATEGY :
BUY GOLD ABOVE 1273.2 TARGET 1278.2 1284.2 SL 1268.2
SELL GOLD BELOW 1265.8 TARGET 1260.8 1254.8 SL 1270.8

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SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Crude oil prices rose by 0.24 per cent on Wednesday on heavy short covering after suffering one of its worst single-day sessions on the calendar year as investors continued to react to devastating wildfires in Canada and widespread changes in the leadership structure of Saudi Arabia’s leading state-run oil company.Traders continued to monitor the catastrophic fires in Canada where estimates of the number of barrels being forced offline from the firestorms continued to rise.

• Gold prices rose by 0.70 per cent on Wednesday as investors continued to monitor movements in the US dollar. The greenback fell as investors locked in gains following its steep rise after continued comments about possible intervention by the Japanese government. Dollar weakness usually benefits gold as it boosts the metal’s appeal as an alternative asset and makes dollar-priced commodities cheaper for holders of other currencies.

• The correction last evening was not as eventful as Monday in Copper prices. June futures closed at Rs 312.15, down
  0.32%. The data from China’s National Statistics Bureau said its Consumer Price Index for April rose 2.3% on an annual basis, slightly lower than consensus estimates of 2.4% and in line with March’s reading.The prices from last few days have been under severe threat first by the Chinese import numbers and now the news of Freeport selling its key Copper business.

TRADING STRATEGY :
BUY GOLD ABOVE 1280 TARGET 1285 1292 SL 1273
SELL GOLD BELOW 1270 TARGET 1265 1658 SL1275

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SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Crude oil prices fell by 0.34 per cent on Tuesday as market players looked ahead to fresh weekly information on US stockpiles of crude and refined products. The American Petroleum Institute will release its inventories report later in the day while Wednesday’s government report could show crude stockpiles rose by 0.5 million barrels in the week ended May 6.

• Gold prices gained marginally by 0.05 per cent on Tuesday after mixed consumer and producer price data from China. CPI for April fell 0.2 per cent month-on-month as expected and at a 2.3 per cent pace year-on-year a tad lower than the 2.4 per cent gain seen. PPI for April year-on-year fell 3.4 per cent compared to a expected drop of 3.8 percent.

• German industrial production declined 1.3 percent on a monthly basis in March, following a revised 0.7 percent drop in February, Destatis reported Tuesday. This was the second consecutive decline and the biggest since August 2014, when output slid 2.5 percent. Excluding energy and construction, production in industry fell 1.2 percent. Within industry, energy production gained 0.3 percent, while construction output decreased 3.2 percent. On a yearly basis, growth in industrial production eased to 0.3 percent from 2 percent, the economy ministry said.

TRADING STRATEGY :
BUY GOLD ABOVE 1268 TARGET 1273 1279 SL 1263
SELL GOLD BELOW 1261 TARGET 1256 1250 SL 1266

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SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Copper futures plunged by more than 1 per cent during noon trade in the domestic market on Monday as investors and speculators exited positions in the industrial metal as dismal China trade data underlined concerns over the health of the world’s second biggest economy clouding the demand outlook for copper.Chinese exports fell 1.8 per cent in dollar terms in April and imports suffered an 18th straight month of decline.

• Gold prices fell by 0.75 per cent on Monday even as the Bank of Japan minutes saw some board members down-beat on hitting the inflation target within the current forecast suggesting continued easy policy. The Bank of Japan published the minutes of its April policy meeting showing some numbers expect the target date for 2 per cent sustained inflation may need to be pushed back.

• Crude oil prices rose by 1.71 per cent on Monday as supply outages persisted over the weekend from Canada’s    wildfires that have shut half the country’s vast oil sands capacity. Cooler weather light rain and winds opposed to the direction of flames helped control the advance of the blaze that razed Alberta’s oil sands boomtown Fort McMurray. Yet energy firms such as Statoil and Husky Statoil shut their facilities in the area as a precaution.

TRADING STRATEGY :
BUY GOLD ABOVE 1280 TARGET 1285 1291 SL 1275
SELL GOLD BELOW 1277 TARGET 1272 1266 SL 1282

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SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Gold futures were higher in European trade on Thursday, as market players looked ahead to a raft of speeches from Federal Reserve officials later in the day to judge the balance of opinion among policymakers on the prospect of further rate hikes.St. Louis Fed President James Bullard is due to speak at 15:30GMT, or 11:30AM ET, at Santa Barbara County’s Economic Summit.

• A huge wildfire near Canada’s oil sands region and escalating tensions in Libya stoked concern among investors over a near-term supply shortage, driving crude prices up for the first time in a week on Thursday.Brent crude futures (LCOc1) rose $1.19 on the day to $45.81 a barrel by 0845 GMT, while U.S. West Texas Intermediate (WTI) futures (CLc1) rose $1.45 to $45.23.

• WTI Crude oil futures are lingering around $45 per barrel mark as steady buying has emerged in the counter after a sharp tumble on Monday. US inventories stay around record highs even as crude output is falling. Oil traders also seem to be eyeing the firmness in gasoline demand ahead of the peak driving season.MCX Crude oil futures ended just above Rs 2900 per barrel yesterday and should see a positive opening following the recovery in global prices.

TRADING STRATEGY :
BUY GOLD ABOVE 1283.5 TARGET 1288.5 1294.5 SL BELOW 1278.5
SELL GOLD BELOW 1274.5 TARGET 1269.5 1263.5 SL ABOVE 1279.5

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SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Crude oil prices rose by 0.31 per cent on Wednesday after US industry supply data noted a build in crude but refined products showed healthy drawdowns. The American Petroleum Institute said its estimate of weekly crude oil stock showed a build of 1.265 million barrels.

• Gold prices fell by 0.45 per cent on Wednesday as the US dollar staged a recovery after a pair of Federal Reserve officials talked up US interest rate hikes this year. Atlanta Fed President Dennis Lockhart said the US could see two further interest rate rises this year while San Francisco Fed President John Williams said that he would support an interest-rate hike in June as long as he sees continued progress on the economy inflation and jobs.

• Zinc, a metal that is used in Galvanization gained in the month of April 2016 compared to March 2016. On LME, prices averaged at $ 1851 per tonne in April 2016 compared to $ 1802 per tonne in March 2016, up 2.7%. International Lead and Zinc Study Group (ILZSG) mentioned that World usage of refined zinc metal is expected to increase by 3.5% to 14.33 million tonnes in 2016.

TRADING STRATEGY :
BUY GOLD ABOVE 1285 TARGET 1290 1296 SL BELOW 1280
SELL GOLD BELOW 1275 TARGET 1270 1264 SL ABOVE 1280

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SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Gold prices fell by 0.28 per cent on Tuesday as participants booked profits at prevailing higher levels even as the precious metal glittered overseas. Traders attributed the fall in gold futures to profit-booking by traders at existing levels. However a firm trend overseas on speculation that the US central bank will be slow to tighten policy further bolstering the metal’s appeal as the dollar sagged.

• Crude oil prices rose by 0.07 per cent on Tuesday as the dollar slipped to an 18-month low against the yen potentially spurring fuel demand. Higher oil came on the back of a slumping dollar which makes purchases of dollar-traded fuel cheaper for countries using other currencies potentially spurring demand as well as strong investor interest in oil.

• Lead prices fell by 0.75 per cent on Tuesday as a result of low demand for the commodity from battery-maker in the spot market in the midst of weak overseas trend. At the MCX Lead futures for the May 2016 contract is trading at Rs 118.60 per kg down by 0.75 per cent after opening at Rs 118.95 against a previous close of Rs 119.50.

TRADING STRATEGY :
BUY GOLD ABOVE 1301 TARGET 1306 1312 SL BELOW 1296
SELL GOLD BELOW 1288 TARGET 1283 1277 SL ABOVE 1293

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SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Gold prices gained 0.09 per cent on Monday as investors noted manufacturing data out of China at the weekend and looked ahead to a private estimate tomorrow. On Tuesday comes the closely-watched Caixin manufacturing PMI for April which last came in at 49.7.Markets in China are shut on Monday for a holiday. China April CFLP manufacturing index came in at 50.1 below expectations.

• Crude oil prices fell by 0.30 per cent on Monday as rising production in the Middle East outweighed a decline in US output and a recent slide in the dollar which has been supporting crude. The rising output from the Organization of the Petroleum Exporting Countries (OPEC) was outweighing supportive factors such as a decline in US output. Markets in China are shut on Monday for a holiday. China April CFLP manuacturing index came in at 50.1 below expectations.

• Lead prices fell by 0.37 per cent on Monday due to the surge in the lead stockpiles at the London Metal Exchange (LME) on account of the weak demand for the commodity. LME lead stocks rose by 75 metric tonnes to 175100 metric tonnes as on May 2 2016.At the MCX Lead futures for the May 2016 contract is trading at Rs 119.70 per kg down by 0.37 per cent after opening at Rs 120.45 against a previous close of Rs 120.15.

TRADING STRATEGY :
BUY GOLD ABOVE 1302 TGT 1307/1315 SL BELOW 1295
SELL GOLD BELOW 1291.50 TGT 1286/1278 SL ABOVE 1299

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SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Crude oil prices rose by 0.64 per cent on Thursday after housing starts in Japan rose unexpectedly in the last quarter signaling improving housing market in the region which raised the demand for the fuel.In a report Ministry of Land Infrastructure and Transport said that Japanese Housing Starts rose to a seasonally adjusted 8.4 per cent from 7.8 percent in the preceding quarter.

• Gold prices gained 0.18 per cent on Thursday after the Bank of Japan surprised markets by keeping monetary policy steady. The BoJ held monetary policy steady quashing speculation that it would ramp up its already extensive easing program. At the MCX Gold futures for June 2016 contract is trading at Rs 29435 per 10 gram up by 0.18 per cent after opening at Rs 29350 against the previous closing price of Rs 29383. It touched the intra-day high of Rs 29480.

• Silver futures rose by 1.20 per cent on Wednesday afternoon market at the Multi Commodity Exchange (MCX) due to firm global trend. At the MCX Silver futures for May 2016 contract is trading at Rs. 40671 per Kg up by 1.20 per cent after opening at Rs. 40350. It touched the intra-day high of Rs. 40899.Mexico is the largest producer of silver whereas major consumers are USA India and Canada.

TRADING STRATEGY :
BUY GOLD ABOVE 1258.8 TARGET 1263.8 1269.8 SL BELOW 1253.8
SELL GOLD BELOW 1253.8 TARGET 1248.8 1242.8 SL ABOVE 1258.8

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SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• West Texas Intermediate oil prices rallied to a five-month high in European trade on Wednesday, amid speculation weekly supply data due later in the session will show U.S. crude inventories rose at a slower pace than expected last week.The U.S. Energy Information Administration will release its weekly report on oil supplies at 14:30GMT, or 10:30AM ET, amid expectations for a gain of 2.4 million barrels.

• Gold futures ticked higher in European trade on Wednesday, as investors looked ahead to the Federal Reserve’s rate decision due later in the day for fresh guidance on the future path of U.S. interest rates.While the Fed is widely expected to leave interest rates unchanged at the conclusion of its policy meeting at 18:00GMT, or 2:00PM ET, Wednesday, the U.S. central bank could provide guidance on its pace of tightening over the next several months.

• Copper prices fell by 0.70 per cent on Wednesday after Japan’s all industries activity index fell last month official data showed on Wednesday signaling weak sentiment in the region which reduced the demand outlook for the metal. In a report Japanese Ministry of Economy Trade and Industry said that Japan’s All Industries Activity Index fell to a seasonally adjusted -1.2 per cent from 1.2 per cent in the preceding month whose figure was revised down from 2.0 per cent.

TRADING STRATEGY :
BUY GOLD ABOVE 1248 TARGET 1253 1259 SL BELOW 1243
SELL GOLD BELOW 1242.5 TARGET 1237.5 1231.5 SL ABOVE 1247.5

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SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Oil prices rose on Friday towards $45 a barrel, heading for a third straight week of gains as market sentiment turned more upbeat despite persistent oversupply.Traders said sentiment in the entire commodity complex had turned more confident despite the glut, with new cash being put into the market by investors, lifting prices.

• Gold prices slipped lower in European morning hours on Friday, as a stronger U.S. dollar and rising oil prices dampened demand for the safe-haven asset.On the Comex division of the New York Mercantile Exchange, gold futures for June delivery were down 0.29% at $1,246.60. The June contract ended Thursday’s session 0.33% lower at $1,250.30 an ounce.

• Copper prices rose by 0.35 per cent on Friday after Germany’s manufacturing PMI rose more-than-expected last month signaling improving manufacturing activity in the region which raised the demand outlook for the metal. In a report Markit Economics said that German manufacturing PMI rose to a seasonally adjusted 51.9 from 50.7 in the preceding month.

TRADING STRATEGY :
BUY GOLD ABOVE 1235 TARGET 1240 1246 SL 1229
SELL GOLD BELOW 1229 TARGET 1224 1218 SL 1235

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SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Silver prices plunged by Rs 195 to Rs 38,312 per kg in futures trade today as speculators cut down their bets, taking weak cues from global market.At the Multi Commodity Exchange, silver prices for delivery in May traded sharply lower by Rs 195, or 0.51%, to Rs 38,312 per kg, in a business turnover of 354 lots.Similarly, the white metal prices for delivery in far-month July slumped by Rs 167, or 0.43%, to Rs 38,900 per kg, in a business volume of 10 lots.

• Gold prices rose on Monday, buoyed up by increased investor demand for safe haven assets as oil prices tumbled after a weekend meeting of major producers ended without an agreement on curtailing production.U.S. gold futures for June delivery were up 0.34% at $1,238.6 an ounce by 0945 GMT.

• Crude oil prices plunged in Asia on Monday as major oil producers gathered in Doha, Qatar failed at the weekend to reach an agreement to freeze production.The producers—Saudi Arabia, Russia, Kuwait, and other OPEC members, but not including Iran—met most of the day but broke up toward evening without a deal. Saudi Arabia had insisted there could be no agreement unless Iran froze production, too.

TRADING STRATEGY :
BUY GOLD ABOVE 1240 TGT 1245 1251 SL BELOW 1234
SELL GOLD BELOW 1230 TGT 1225 1219 SL ABOVE 1236

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SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Gold prices regained some ground in European morning hours on Friday, after hitting one-week lows in the previous session due to a stronger U.S. dollar, as the release of upbeat data Chinese economic growth boosted demand for the precious metal.On the Comex division of the New York Mercantile Exchange, gold futures for June delivery were up 0.38% at $1,231.10.

• Crude oil prices gained in Asia on Friday as China GDP data met expectations, though clocked the weakest annual pace since 2009. On the New York Mercantile Exchange, WTI crude for May delivery rose 0.19% to $41.58 a barrel. Brent crude was up 0.09% to $43.89 a barrel.

• Copper prices rose by 3.97 per cent on Wednesday after China’s exports in March returned to growth for the first time in nine months adding to further signs of stabilization in the world’s second-largest economy that cheered regional investors which raised the demand outlook for the metal. March exports rose a blistering 11.5 percent from a year earlier the first increase since June and the largest percentage rise since February 2015.

TRADING STRATEGY :
BUY GOLD ABOVE 1232 TGT 1237 1243 SL BELOW 1226
SELL GOLD BELOW 1225 TGT 1220 1214 SL ABOVE 1231

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SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Copper prices rose by 3.97 per cent on Wednesday after China’s exports in March returned to growth for the first time in nine months adding to further signs of stabilization in the world’s second-largest economy that cheered regional investors which raised the demand outlook for the metal. March exports rose a blistering 11.5 percent from a year earlier the first increase since June and the largest percentage rise since February 2015.

• Gold prices fell by 0.62 per cent on Wednesday with trade data out of China showing a mixed picture after exports unexpectedly soared. In China March trade data showed a trade balance surplus of $29.86 billion narrower than the $30.85 billion seen. Exports however jumped 11.5 per cent handily beating the 2.5 per cent year-on-year gain seen while imports fell 13.8 per cent more than the 10.2 per cent decline expected.

• Crude oil prices fell by 1.11 per cent on Wednesday after US API weekly crude stocks rose more-than-expected last week indicating that the demand for the commodity in US world’s largest consumer of crude oil is weak. In a report American Petroleum Institute said that US API Weekly Crude Stock rose to 6.200M from -4.300M in the preceding week. Analysts had expected US API Weekly Crude Stock to rise 1.000M last week.

TRADING STRATEGY :
BUY GOLD ABOVE 1245 TGT 1250 1256 SL BELOW 1239
SELL GOLD BELOW 1235 TGT 1230 1224 SL ABOVE 1241

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SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Copper prices rose by 3.97 per cent on Wednesday after China’s exports in March returned to growth for the first time in nine months adding to further signs of stabilization in the world’s second largest economy that cheered regional investors which raised the demand outlook for the metal.

• Gold moved further back from the previous day’s three week high on Wednesday as the dollar rebounded and European shares surged as upbeat Chinese trade data boosted risk appetite. U.S. gold futures for June delivery were down 1.09% to $1,246.80 an ounce by 0946 GMT.

• Oil prices fell on Wednesday after Saudi Arabia’s oil minister appeared to rule out an oil production freeze ahead of Sunday’s meeting of major producers in Doha. Crude oil for May delivery on the New York Mercantile Exchange was down 62 cents, or 1.47%, to trade at $41.58 a barrel by 0.7.42 GMT.

TRADING STRATEGY :
BUY GOLD ABOVE 1247 TGT 1252 1258 SL BELOW 1241
SELL GOLD BELOW 1242 TGT 1237 1231 SL ABOVE 1248

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SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• The price of copper gained by 0.90 per cent on Tuesday afternoon market pertaining to strong demand in domestic market. A firm trend in the base market at the London Metal Exchange backed by a rise in crude oil price and increase in demand in China market has influenced copper price in future trades.

• Gold prices were trading flat on Tuesday as investors await more clarity on the US interest rate outlook. Prices rose as expectations that the Federal Reserve will keep interest rates on hold for some time to come underpinned investor demand for the precious metal.

• Crude oil prices rose by 0.41 per cent on Tuesday ahead of a meeting of oil producers in Doha next Sunday aimed at freezing current output levels. The market received a small boost ahead of the settlement as a US government forecast released said US shale oil production is expected to fall for a seventh month in a row in May.

TRADING STRATEGY :
BUY GOLD ABOVE 1265 TGT 1270 1276 SL BELOW 1259
SELL GOLD BELOW 1257 TGT 1252 1246 SL ABOVE 1262

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