Tuesday, September 22, 2015

SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :
  • Gold futures traded near the highest level in nearly three weeks on Monday, as the Federal Reserve’s decision not to hike interest rates boosted demand for the precious metal.Gold for December delivery on the Comex division of the New York Mercantile Exchange inched up $1.10, or 0.1%, to trade at $1,138.90 a troy ounce during European morning hours.
  • Copper futures edged higher on Monday, as investors turned their attention to an index of manufacturing activity from China due later in the week for a fresh indication on the strength of the global economy.
  • Oil rose by more than 1 percent on Monday after data showed U.S. drilling slowed and a report said $1.5 trillion worth of planned production was uneconomic at current prices.Crude has halved in value over the last year as soaring global production overwhelmed slowing demand and the much lower prices have now begun to hit drilling, particularly in the United States.

TRADING STRATEGY :
BUY GOLD ABOVE 1136 TARGET 1141 1147 SL 1130
SELL GOLD BELOW 1130 TARGET 1125 1119 SL 1136

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