SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Gold futures struggled for direction in subdued trade on Tuesday, as expectations for a Federal Reserve rate hike later this year weighed.Gold for December delivery on the Comex division of the New York Mercantile Exchange inched up $1.40, or 0.12%, to trade at $1,134.20 a troy ounce during European morning hours.

• Copper futures re-approached a two-week low on Tuesday, as investors looked ahead to key Chinese manufacturing data later in the week for a fresh indication on the strength of the world’s second largest economy. A day earlier, copper fell to $2.362, the lowest level since September 8, before turning higher to end up 0.2 cents, or 0.1%, at $2.388.

• U.S. natural gas prices struggled near the lowest level in almost five months on Tuesday, as forecasts for warm weather across key consumption regions of the U.S. in the week ahead dampened demand expectations for the fuel. Natural gas for delivery in October on the New York Mercantile Exchange inched up 0.7 cents, or 0.29%, to trade at $2.580 per million British thermal units during U.S. morning hours.

TRADING STRATEGY :
BUY GOLD ABOVE 1126 TARGET 1131 1137 SL 1120
SELL GOLD BELOW 1120 TARGET 1115 1109 SL 1126

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