SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Copper futures tumbled to the lowest level in more than six years on Tuesday, as concerns over the health of China’s economy    dampened appetite for the red metal.Copper for December delivery on the Comex division of the New York Mercantile Exchange hit an intraday low of $2.225 a pound, a level not seen since July 2009, before trading at $2.234 during morning hours in London, down 1.8 cents, or 0.79%.

• Oil prices remained weak on Tuesday, following a slide of almost 3 percent the previous session, as concerns over Asia’s economic health mounted and as production remained high. “China’s industrial profits declined 8.8 percent in August from a year earlier, with the biggest drops concentrated in producers of coal, oil and metals,” ANZ said on Tuesday. Oil prices, along with most other commodities, have fallen sharply recently, with crude futures losing almost 60 percent of their value since June 2014.

• Gold futures edged lower on Tuesday, as expectations for a U.S. rate hike in the coming months continued to weigh on the precious metal.Gold for December delivery on the Comex division of the New York Mercantile Exchange inched down $5.40, or 0.48%, to trade at $1,126.30 a troy ounce during European morning hours.Gold fell to a five-and-a-half year low of $1,072.30 on July 24 amid speculation the Fed will raise interest rates for the first time since 2006 at some point this year.

TRADING STRATEGY :
BUY GOLD ABOVE 1127 TARGET 1132 1138 SL 1121
SELL GOLD BELOW 1120 TARGET 1115 1109 SL 1126

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