SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Oil rose further above $50 a barrel on Wednesday supported by an industry report that showed a large drop in U.S. crude inventories and a boost in investor risk appetite ahead of Britain’s referendum on EU membership.U.S. crude inventories fell by 5.2 million barrels, the American Petroleum Institute (API) said on Tuesday, far more than analysts expected.

• Gold futures extended losses from the prior session in European trade on Wednesday, falling to the lowest level in almost two weeks as investors looked ahead to Thursday’s highly-anticipated referendum on whether Britain will choose to remain in the European Union. Gold for August delivery on the Comex division of the New York Mercantile Exchange fell to an intraday low of $1,263.80 a troy ounce, the weakest since June 9.

• U.S. natural gas futures rose to a new nine-month high on Tuesday, as forecasts for continued above-normal temperatures across most parts of the U.S. throughout most of summer raised expectations for power generation demand to meet air conditioning needs. Updated forecasts released Monday said temperatures in the Midwest and eastern seaboard will be warmer than previously expected going into the July 4 holiday weekend.

TRADING STRATEGY :
BUY GOLD ABOVE 1270 TARGET 1275 1281 SL 1265
SELL GOLD BELOW 1260 TARGET 1255 1249 SL 1265

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SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Oil prices pushed lower in European trade on Tuesday, falling for the first time in three days as market players looked ahead to fresh weekly information on U.S. stockpiles of crude and refined products.Crude oil for August delivery on the New York Mercantile Exchange shed 23 cents, or 0.46%, to trade at $49.73 a barrel by 07:53GMT, or 3:53AM ET, after soaring $1.40, or 2.88%, a day earlier.

• Gold futures extended losses from the prior session in European trade on Tuesday, as investors awaited testimony by Federal Reserve Chair Janet Yellen while looking ahead to Thursday’s highly-anticipated referendum on whether Britain will choose to remain in the European Union.Gold for August delivery on the Comex division of the New York Mercantile Exchange dipped $5.15, or 0.4%, to trade at $1,286.85 by 06:44GMT, or 2:44AM ET. A day earlier, gold shed $2.70, or 0.21%.

• Lead futures fell during evening trade in the domestic market on Tuesday as investors and speculators exited positions in the industrial metal amid sluggish physical demand for Lead by battery-makers in the domestic spot market.Traders also stuck to a cautious approach ahead of the crucial EU referendum on Thursday in which Britain will vote whether to break away from the European Union a move which could hurt the global economy and dampen the appetite for risky assets including commodities and push up the dollar with which metals have an inverse relationship.

TRADING STRATEGY :
BUY GOLD ABOVE 1272 TARGET 1277 1283 SL 1267
SELL GOLD BELOW 1269 TARGET 1264 1258 SL 1274

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SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Crude oil prices rose on Friday for the first time in seven days as markets took a breather from concerns about the impact of Britain’s possible exit from the European Union.Brent crude futures were up 59 cents, or 1.3 percent, at $47.78 a barrel around 0650 GMT after slumping 3.6 percent in the previous session.

• Gold prices slid lower on Friday, as traders locked in profits from the precious metal’s rally to 23-month highs on Thursday, sparked by a broadly weaker U.S. dollar. On the Comex division of the New York Mercantile Exchange, gold futures for August delivery lost 1.03% to $1,285.05. The August contract ended Thursday’s session 0.78% higher at $1,298.40 an ounce.

• Copper futures were trading higher in the domestic market on Friday on pick up in spot demand even as metal weakened overseas. Market men attributed the rise in copper futures to a firming trend at the domestic spot market on the back of pick up in industrial demand.

TRADING STRATEGY :
BUY GOLD ABOVE 1300 TARGET 1305 1311 SL 1295
SELL GOLD BELOW 1292.5 TARGET 1287.5 1281.5 SL 1297.5

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SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Copper futures were trading lower during the evening trade in the domestic market on Thursday on worries that Britain may vote to exit the EU next week drove investors away from risky assets.Investors focus shifted to safe-haven assets amid global worries weighed on Copper futures.

• Gold futures were trading higher during the afternoon trade in the domestic market on Thursday as speculators raised their bets after the precious metal climbed above USD 1300 an ounce in the global markets.Rally in gold prices in the global market where it again went past USD 1300 after the US Fed scaled back the outlook for interest-rate increase and US Fed Chair Janet Yellen signaled rates may stay lower for longer raised appeal of the yellow metal influenced gold futures in domestic market.

• Silver futures closed lower during the evening trade in the domestic market on Wednesday as speculators trimmed their exposure amid a weak trend in global markets.Speculators indulged in trimming of positions at existing levels and a weak trend in precious metals globally kept pressure on Silver futures.

TRADING STRATEGY :
BUY GOLD ABOVE 1302 TARGET 1307 1313 SL 1297
SELL GOLD BELOW 1300 TARGET 1295 1289 SL 1300

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SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Oil fell on Tuesday, as investor nervousness over next week’s vote on Britain’s possible European Union exit swept financial markets, eclipsing signs of a return to health for crude prices.Perceived safe-haven assets such as the Swiss franc and German Bunds rallied, while industrial commodities and equity markets, seen as more vulnerable to economic risk, fell after polls showed Britain’s “Leave” campaign leading before a referendum on EU membership.

• Gold futures were lower in European trade on Tuesday, after climbing to a four-week high in the prior session, as investors readjusted positions ahead of the Federal Reserve’s two-day monetary policy meeting due to begin later in the day. While the Fed is widely expected to leave interest rates unchanged at the conclusion of its policy meeting at 18:00 GMT, or 2:00PM ET, Wednesday, the U.S. central bank could provide guidance on its pace of tightening over the next several months.

• Silver futures were trading lower during the late morning trade in the domestic market on Tuesday as traders trimmed their positions amid tracking weak trend in global markets.Speculators indulged in trimming of positions at existing levels and a weak trend in precious metals globally kept pressure on Silver futures.

TRADING STRATEGY :
BUY GOLD ABOVE 1286.8 TARGET 1291.8 1297.8 SL 1281.8
SELL GOLD BELOW 1277.8 TARGET 1272.8 1266.8 SL 1282.8

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SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Oil prices edged lower in European trade on Monday, with the U.S. benchmark falling further below the $50-level amid indications of increased domestic drilling activity.Crude oil for July delivery on the New York Mercantile Exchange fell to an intraday low of $48.21 a barrel, the weakest level June 2. It last stood at $48.56 by 07:50GMT, or 3:50AM ET, down 51 cents, or 1.04%.On Friday, New York-traded oil prices sank $1.49, or 2.95%, after data showed the U.S oil rig count rose the second straight week last week, underlining concerns over growing supplies.

• Gold futures extended last week’s strong gains in European trade on Monday, hitting a fresh four-week high as investors looked ahead to the Federal Reserve’s policy meeting later this week and amid mounting jitters over the upcoming referendum on whether the U.K. would remain in the European Union.The Fed is not expected to take action on interest rates at the conclusion of its two day policy meeting on Wednesday.

• Copper futures closed lower in the domestic market on Friday as headwinds from a mid-term U.S. rate hike that have boosted the dollar added to pressure from tepid physical demand in top user China. The dollar was bolstered by an unexpected drop in domestic jobless claims last week calming some worries about U.S. economic growth decelerating in the second quarter.

TRADING STRATEGY :
BUY GOLD ABOVE 1286.7 TARGET 1291.7 1297.7 SL BELOW 1281.7
SELL GOLD BELOW 1282.8 TARGET 1277.8 1271.8 SL ABOVE 1287.8

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SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Gold prices slid lower on Friday, as a stronger U.S. dollar weighed but the precious metal still remained within close distance of a three-week highs amid lower expectations for a summer U.S. rate hike. On the Comex division of the New York Mercantile Exchange, gold futures for August delivery declined 0.34% to $1,268.25.

• Oil prices fell on Friday, as a stronger dollar pulled crude off the 2016 highs hit this week, although strong refinery    demand and global supply disruptions lent some support.International Brent crude oil futures were trading at $51.59 per barrel at 0537 GMT, down 36 cents from their last settlement. U.S. West Texas Intermediate (WTI) futures were down 38 cents at $50.18 a barrel.

• Copper futures closed lower in the domestic market on Thursday as dollar strengthened after U.S. data revived expectations of an imminent Fed rate rise while higher inventories reinforced negative sentiment.The dollar was bolstered by an unexpected drop in domestic jobless claims last week calming some worries about U.S. economic growth decelerating in the second quarter.

TRADING STRATEGY :
BUY GOLD AROUND 1240 TARGET 1245 1250 SL 1236
SELL GOLD AROUND 1250-1251 TARGET 1246 1240 SL 1253

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SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Silver futures were trading lower during noon trade in the domestic market on Tuesday as investors and speculators stuck to a cautious approach after Fed Chair Janet Yellen stuck to her view over a gradual hike in US interest rates despite signs last week that the US job market was losing momentum.

• Copper futures fell during late morning trade in the domestic market on Tuesday as traders awaited China’s foreign trade data to be released tomorrow which may offer fresh cues over the health of the world’s biggest metals consuming nation.A gauge of US labour market conditions deteriorated sharply in May to -4.8 from a revised -3.4 in April confirming the slowdown in the job market in the world’s biggest economy that may curb demand.

• Crude oil futures consolidated an overnight rally in early trade on Tuesday as reports of more attacks by militants on Nigeria’s oil operations which have pushed the country’s output to the lowest level in 27 years and shut the majority of the country’s 23 gas-powered generators raised supply concerns.

TRADING STRATEGY :
BUY GOLD AROUND 1240 TARGET 1245 1250 SL 1236
SELL GOLD AROUND 1250-1251 TARGET 1246 1240 SL 1253

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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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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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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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SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Copper futures tumbled by more than 1 per cent during late morning trade in the domestic market on Wednesday as investors and speculators exited positions in the industrial metal after data showed that manufacturing activity in China the world’s biggest metals consumer continued to contract in May signaling a worsening economic slowdown in the country darkening the demand outlook for the metal.

• Gold prices rose with investors noting mixed China PMI estimates. The Caixin manufacturing PMI came in at 49.2 below the 49.3 expected and down from the previous 49.4. Earlier in China the semi-official CFLP manufacturing PMI for May came in a bit higher than expected at 50.1 unchanged from the previous month.The non-manufacturing PMI for May came in at 53.1 down from 53.5 the previous month.

• Crude oil prices fell as production from the major Middle East exporters was expected to remain high or even increase. Traders said that the dips were a result of the prospect of rising output from Middle East members of the Organization of the Petroleum Exporting Countries (OPEC) which meets this week in Vienna to discuss its market policy which most analysts say will continue to focus on defending market share instead of propping up prices by controlling output.

TRADING STRATEGY :
BUY GOLD ABOVE 1223 TARGET 1228 1234 SL 1218
SELL GOLD BELOW 1213 TARGET 1208 1202 SL 1218

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SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Gold futures struggled near the lowest level in more than three months in European trade on Tuesday, as investors returning from the long Memorial Day weekend awaited data that could back some Federal Reserve officials’ relatively optimistic views on the U.S. economy.The Commerce Department will release its core personal consumption expenditure (PCE) index for April, along with personal income and spending for the same month at 12:30GMT or 8:30AM ET.

• Brent crude prices fell on Tuesday on rising output from the Middle East and ahead of an OPEC meeting later this week, while U.S. crude edged higher as the summer driving season began.Brent crude oil futures were down 40 cents at $49.36 a barrel by 0839 GMT, while U.S. West Texas Intermediate (WTI) crude oil futures traded 10 cents higher at $49.43 a barrel.

• Natural Gas futures jumped during noon trade in the domestic market on Tuesday as investors and speculators booked fresh positions in the energy commodity as forecasts for mild summer weather in the near-term bolstered hopes of a pickup in cooling demand.Updated weather forecasting models called for mild summer temperatures over the next two weeks which may boost demand for gas-fired air conditioning.About 50 per cent of US households use natural gas for cooling purposes.

TRADING STRATEGY :
BUY GOLD ABOVE 1214.3 TARGET 1219.3 1225.3 SL 1209.3
SELL GOLD BELOW 1209.5 TARGET 1204.5 1198.5 SL 1214.5

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SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Silver futures plunged during morning trade in the domestic market on Monday as investors and speculators exited positions in the precious metal tracking a bearish trend in the overseas market as a stronger dollar curbed the lure for the bullion as an alternative asset.Stronger greenback makes silver more expensive for those holding other currencies thus dimming demand.

• Oil prices were modestly lower in quiet European trade on Monday, as a broadly stronger U.S. dollar prompted market players to lock in gains from a recent rally which took prices above the key $50-level.Both Brent and West Texas Intermediate oil futures cracked $50 late last week for the first time since October as traders eyed supply disruptions in Nigeria, France, Canada and Venezuela.

• Gold futures fell sharply in European trade on Monday, dropping below the key $1,200-level for the first time since February as investors continued to factor in an increased chance of a near-term U.S. interest rate rise.In remarks made during an appearance at Harvard University Friday afternoon, Federal Reserve Chair Janet Yellen said a rate hike in the coming months “would be appropriate,” if the economy and labor market continue to improve.

TRADING STRATEGY :
BUY GOLD ABOVE 1211 TARGET 1216 1222 SL 1206
SELL GOLD BELOW 1199.7 TARGET 1194.7 1188.7 SL 1204.7

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SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Natural Gas futures fell during noon trade in the domestic market on Friday as investors and speculators exited positions in the energy commodity after a bigger than expected increase in US crude stockpiles signaled a worsening supply glut. The EIA said that US crude inventories rose by 71 billion cubic feet in the week ended May 20 2016 above the 68 billion cubic feet increase expected by analysts.

• Silver futures were trading lower during late morning trade on Friday as investors and speculators resorted to a cautious stance amid rising speculation that the US Federal Reserve will lift interest rates in June or July dimming the lure for the bullion as a store of value.St. Louis Fed President James Bullard on Thursday said that financial markets are correctly reading the chances of June rate hike adding that a tighter labour market may exert upward pressure on inflation.

• Crude oil prices fell by 0.69 per cent on Friday as investors were worried that higher prices could reactivate shuttered crude output adding to global oversupply. Prices were also pressured by a strong greenback that was buoyed by generally positive US economic data amid growing expectations of a near-term rate hike. A stronger dollar reduced the appeal of the fuel as an alternative asset. Stronger greenback makes the fuel expensive for those holding other currencies thus reducing demand.

TRADING STRATEGY :
BUY GOLD ABOVE 1223 TARGET 1228 1234 SL BELOW 1218
SELL GOLD BELOW 1199.7 TARGET 1194.7 1188.7 SL ABOVE 1204.7

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SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Gold futures were higher in European trade on Thursday, after falling to a seven-week low overnight as investors continued to factor in an increased chance of a near-term U.S. interest rate rise.Odds of a Fed rate hike for June stood at nearly 32% Thursday morning, according to futures markets. July odds were at about 60%.

• Brent oil futures climbed above $50 a barrel on Thursday for the first time in nearly seven months as a global supply glut that plagued the market for nearly two years showed signs of easing.Oil prices have rallied in recent weeks as a string of outages, due in part to wildfires in Canada and unrest in Nigeria and Libya, knocked out nearly 4 million barrels per day of production.

• Crude oil prices rose by 1.17 per cent on Thursday boosted after US government figures showed a sharper-than-expected draw down in crude stocks last week.US crude stocks fell 4.2 million barrels to 537.1 million in the week to May 20 the steepest weekly drop in seven weeks the US Department of Energy’s Energy Information Administration said on Wednesday.

TRADING STRATEGY :
BUY GOLD ABOVE 1231.5 TARGET 1236.5 1242.5 SL 1226.5
SELL GOLD BELOW 1225.3 TARGET 1220.3 1214.3 SL 1230.3

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SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Silver futures fell during morning trade in the domestic market on Wednesday as investors and speculators exited positions in the precious metal amidst growing speculation that the US Federal Reserve is moving closer to raising interest rates dimming the lure for the bullion as a store of value.

• Gold prices fell by 0.46 per cent on Wednesday as investors continued to factor in an increased chance of a near-term US interest rate rise. Market players will pay close attention to comments from a number of Fed officials later in the day for further hints on the timing of a US rate hike. Besides the Fed speakers traders will focus on an advanced read on international trade for April and FHFA home prices.

• Crude oil prices rose by 0.85 per cent on Wednesday after US industry stock data showed a sharp drop at the end of last week. The American Petroleum Institute said that crude oil stock dropped 5.137 million barrels last week compared to a decline of 3.3 million barrels seen as refineries typically ramp up gasoline production as the summer driving season approaches next week in the US with the Memorial Day weekend.

TRADING STRATEGY :
BUY GOLD ABOVE 1230.30 TARGET 1235.30 1241.30 SL 1225.30
SELL GOLD BELOW 1220.20 TARGET 1215.20 1209.20 SL 1226.20

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SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Copper futures rose during morning trade in the domestic market on Tuesday amidst firm physical demand for the industrial metal in the domestic spot market. However the gains in the metal were restricted by worries over global growth as manufacturing in the US tumbled to the lowest level since September 2009 with the Markit Manufacturing PMI falling to 50.5 in May from 50.8 in April a tad above the neutral 50-mark.

• Gold prices fell by 0.11 per cent on Tuesday as comments from Federal Reserve officials added to expectations that a rate hike could come as soon as June. The latest signal came from Philadelphia Federal Reserve Bank President Patrick Harker who said that two to three rate hikes are possible this year if the economy continues to grow as projected.

• Crude oil prices rose by 0.15 per cent on Tuesday after Germany’s gross domestic product rose in the last quarter signaling bullish sentiment in the region which raised the demand outlook for the fuel. In a report Statistisches Bundesamt Deutschland said that German GDP rose by a seasonally adjusted 0.7 per cent the same as the preceding quarter. Analysts had also expected German GDP to rise 0.7 per cent in the last quarter.

TRADING STRATEGY :
BUY GOLD ABOVE 1247 TARGET 1252 1258 SL 1242
SELL GOLD BELOW 1240 TARGET 1235 1229 SL 1245

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SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Gold futures struggled near three-week lows in European trade on Monday, adding to last week’s sharp losses, as markets continued to factor in the possibility of another interest rate hike by the Federal Reserve as early as June. Gold for June delivery on the Comex division of the New York Mercantile Exchange shed $1.90, or 0.15%, to trade at $1,251.00 a troy ounce by 06:45GMT, or 02:45AM ET.

• Brent oil prices fell for a fourth consecutive session on Monday after Iran insisted it would not freeze crude output, returning investor attention to a global glut.Adding to signs the oil market will remain oversupplied, data showed last week the number of rigs operated by U.S. drillers held steady for the first time this year, following a near two-year slump in the rig count.

• Natural gas futures jumped more than 2 per cent during noon trade in the domestic market on Monday as investors and speculators booked fresh positions in the energy commodity tracking a bullish trend in the overseas market as a smaller than expected gain in US stockpiles eased worries over a supply glut.

TRADING STRATEGY :
BUY GOLD ABOVE 1256.3 TARGET 1261.3 1267.3 SL 1251.3
SELL GOLD BELOW 1247.5 TARGET 1242.5 1236.5 SL 1252.5

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SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Silver futures were trading higher during noon trade in the domestic market on Friday tracking a bullish trend in the global market as the sharp losses in the previous session amid bets of a Fed rate hike in June offered a good bargain buying opportunity to traders in the precious metal at existing levels.

• Natural Gas futures fell in the domestic market during noon trade on Friday as investors and speculators exited positions in the energy commodity as rising US supplies signaled weak demand for the power plant fuel in the world’s biggest gas consuming nation.The EIA on Thursday said that US gas stockpiles climbed by 73 billion cubic feet to 2.754 trillion cubic feet in the week ended May 13 2016.

• Gold prices fell by 0.19 per cent on Friday as market players continued to price in the improved chances of multiple rate increases from the Federal Reserve this year following hawkish comments from the US central bank on the likelihood of a June rate hike. Federal Open Market Committee (FOMC) said in the minutes from its April meeting that it will likely raise short-term rates at its next meeting in June if the economy continues to improve as expected.

TRADING STRATEGY :
BUY GOLD ABOVE 1261 TARGET 1266 1272 SL 1256
SELL GOLD BELOW 1247 TARGET 1242 1236 SL 1252

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