SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Gold futures edged lower on Wednesday, as expectations for a U.S. rate hike in the coming months dampened the appeal of    the precious metal.Gold for December delivery on the Comex division of the New York Mercantile Exchange shed $2.20, or 0.2%, to trade at $1,124.60 a troy ounce during European morning hours.Most economists believe the U.S. central bank will begin raising rates in December after holding policy steady in September due to concerns over the global economy, particularly China.

• Platinum futures struggled near the lowest level since December 2008 on Wednesday, as fears that the Volkswagen (XETRA:VOWG) emissions scandal would reduce demand from the auto sector weighed.Platinum for January delivery on the Comex division of the New York Mercantile Exchange inched up $6.00, or 0.65%, to trade at $924.10 an ounce during U.S. morning hours. Platinum prices are on track for a 14.7% drop in the second quarter, the worst quarterly performance since 2008.

• Crude oil futures fell in early Asian trade on Wednesday after U.S. inventories showed a weekly buildup that far exceeded analyst expectations.The American Petroleum Institute (API) said late on Tuesday that U.S. crude oil stockpiles rose by 4.6 million barrels to 457.8 million barrels in the week to Sept. 25. Analysts polled by Reuters had expected an increase of only 102,000 barrels.

TRADING STRATEGY :
BUY GOLD ABOVE 1116 TARGET 1120 1126 SL 1110
SELL GOLD BELOW 1110 TARGET 1105 1099 SL 1116

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